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International

Zurich Insurance arranges $8.3 billion financing for RSA bid: Sources

September 08, 2015 Reprints

Sources said that Zurich Insurance Group Ltd. has arranged £5.5 billion ($8.3 million) in financing for the acquisition of London-based RSA Insurance Group P.L.C., reported Bloomberg.

This move signals that Zurich Insurance is getting closer to proceeding with a formal offer for RSA.

U.K. regulators have given Zurich Insurance until Sept. 22 to make a firm offer for the takeover.

The sources said that Zurich would probably repay the financing by selling securities if the bid goes ahead.

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Zurich Insurance arranges $8.3 billion financing for RSA bid: Sources

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