SCOR Increases Stake in IRP

April 7, 2003

France’s SCOR Group announced that, “as a result of recently held negotiations with one of the shareholders of IRP Holdings Ltd., it has offered to purchase 6.67% of the share capital of this company.”

SCOR currently holds a 46.7 percent stake in IRP, an Irish based company incorporated at the end of 2001. It did not name the potential seller, but noted that “the other shareholders of IRP Holdings Ltd. will be able to exercise their pre-emptive rights, pro rata to their existing holdings, over the next few weeks.”

SCOR indicated that “This transaction is in line with the Group’s objectives of reinforced control over its activities and will permit an increased consolidation of the results of this subsidiary in 1H 2003 accounts.”

Was this article valuable?

Here are more articles you may enjoy.