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International

RSA sells 21.75% stake in Thai insurer for $56.4 million

December 22, 2014 Reprints

London-based insurer RSA Insurance Group P.L.C. said it has sold its 21.75% stake in Thai insurer Syn Mun Kong Insurance P.C.L. to Mindo Asia Investments Ltd. and LeapFrog Thailand Holdings Ltd. for a cash consideration of £36 million ($56.4 million), RTT News reports.

RSA is likely to gain about £22 million ($34.4 million) from the sale.

The deal "represents further progress in tightening the strategic focus of the group," said RSA CEO Stephen Hester.

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RSA sells 21.75% stake in Thai insurer for $56.4 million

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