By Dominic Chopping
Danish insurer Tryg AS said Thursday that the Danish Competition and Consumer Authority has approved Intact Financial Corp.'s acquisition of RSA Insurance Group PLC's business outside Norway and Sweden, including the acquisition of sole control of RSA's Danish business placed in Codan AS.
Following completion of the acquisition, Tryg will co-own RSA's business in Denmark, known as Codan Denmark, with the Intact Group on a 50-50 economic basis.
Codan Denmark will remain completely separate and independent of Tryg.
The acquisition remains subject to a number of outstanding conditions, including regulatory clearances.
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(END) Dow Jones Newswires
March 17, 2021 06:50 ET (10:50 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.