- June 11, 2021
- Posted by: Stratford Team
- Category: Business
Company announcement no. 11/2021
Alm. Brand A/S to acquire the Danish business of Codan Forsikring A/S
Alm. Brand A/S (“Alm. Brand”) is pleased to announce that it has entered into a binding agreement with Intact Financial Corporation (“Intact”) and Tryg A/S (“Tryg”), through their jointly-owned subsidiary Scandi JV Co 2 A/S (“Seller”), whereby Alm. Brand will acquire Codan Forsikring A/S’s (“Codan Forsikring”) Danish business (the “Acquisition”). The Acquisition is currently expected to complete during the first half of 2022 following the transfer by Intact and Tryg of the Danish business of Codan Forsikring into a Danish legal entity incorporated for such purpose (“Codan DK”).
Chairman of the Board of Directors Jørgen Hesselbjerg Mikkelsen:
“With the acquisition of Codan DK, the Board of Directors sets a clear strategic course, significantly enhancing the company’s long-term competitive position. We will double our…