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New Deal


Announced

Ageas to acquire Direct Line Group for £3.2bn.

Synopsis

Ageas, an international insurance group that offers retail and business customers life and non-life insurance products, offered to acquire Direct Line Group, a British insurance company, for £3.2bn. “We have made a compelling possible offer that represents a substantial premium to Direct Line’s undisturbed share price. Our Improved Possible Offer delivers substantial cash proceeds to Direct Line shareholders, whilst ensuring they benefit from the material value creation that we believe the combination of the UK businesses of Ageas and Direct Line will deliver. We look forward to engaging with the Direct Line Board of Directors on the terms of our Improved Possible Offer,” Hans De Cuyper, Ageas CEO.

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