Finnish insurer Sampo Plc has surprised analysts by agreeing to acquire a majority stake in If P&C Insurance for €1.37 billion ($1.75 billion).
The move was surprising for several reasons. Nordic insurer If had been considering an IPO but its stakeholders, Swedish financial services group Skandia, Skandia’s mutual unit Skandia Liv and Norwegian insurer Storebrand ASA, may have decided they would not get the price they wanted in an IPO and instead found Sampo’s offer of 1.4
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