Canadian Underwriter

Royal & SunAlliance sell 20% stake in Rothschilds

June 22, 2005   by Canadian Underwriter

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Royal & SunAlliance Insurance Group Plc recently agreed to sell its 20% stake in Rothschilds Continuation Holdings AG the company that controls the U.K. arm of the Roschild investment bank.
Royal & SunAlliance (R&S) are selling the stake to Jardine Strategic Holdings Limited (a Hong Kong-based investment company) for a reported $185 million. The Rothschilds Continuation Holdings Employee Share Trust will acquire the remaining 1.5% of stake.
The final dividend will be paid to R&S.
This transaction, which follows discussions of the disposal of a strategic holding, represents a US$110 million gain for Royal & SunAlliance.

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