RSAIF - Intact Financial rounds up help in financing possible RSA bid

Intact Financial (IFCZF) and Tryg A/S enter subscription agreements with Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board, and Ontario Teachers' Pension Plan Board to provide part of the purchase price for a possible offer for RSA Insurance Group (RSAIF).The agreements provide for the aggregate issuance of 23.8M subscription receipts at a price of C$134.50 per subscription receipt for gross proceeds of C$3.2B.The commitments for each investor are: CDPQ, C$1.5B; CPP Investments C$1.2B, and Ontario Teachers' C$0.5B.Completion of the offering is conditional upon the consortium of Intact and Tryg announcing a firm offer for RSA.Each subscription receipt will entitle the holder to receive one common share of Intact as well as a commitment fee upon closing of the acquisition of RSA.

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Intact Financial rounds up help in financing possible RSA bid