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Christian Baltzer to continue as CEO of Codan Denmark Following Completion of Proposed Takeover by Intact Financial Corporation
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TORONTO, April 22, 2021 /CNW/ - Intact today confirmed that Christian Baltzer will continue as CEO of Codan Denmark following the completion of the proposed takeover of RSA Insurance Group plc by Intact Financial Corporation (TSX: IFC) and Tryg A/S, currently expected in the second quarter of 2021.
Under the proposed transaction, Codan Denmark will be jointly owned by the two parties on a 50/50 economic basis with Intact taking management responsibility.
Working together with Intact, Christian Baltzer and the Codan Denmark-team will drive the continued success of the business, whilst assessing strategic alternatives for its long-term ownership.
Further Information Barclays Bank PLC, acting through its Investment Bank ( Barclays ), which is authorised by the Prudential Regulation Authority and regulated in the United Kingdom by the Financial Conduct Authority and the Prudential Regulation Authority, is acting exclusively for Intact and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone other than Intact for providing advice in relation to the Offer or any other matters referred to in this announcement. In accordance with the Code, normal United Kingdom market practice and Rule 14e-5(b) of the Exchange Act, Barclays will continue to act as exempt principal trader in RSA securities on the London Stock Exchange. These purchases and activities by exempt principal traders which are required to be made public in the United Kingdom pursuant to the Code will be reported to a Regulatory Information Service and will be available on the London Stock Exc