RSA sells troubled US arm to management
Royal and Sun Alliance has announced the sale of its US operation to Arrowpoint Capital, a vehicle set up by the RSA US management team. The insurer also announced the termination of its American Depositary Receipt programme, its voluntary delisting from the New York Stock Exchange and action to terminate its US Securities and Exchange Commission registration.
In September 2003 the RSA announced that its US operation was strategically non core and closed it to new business. A restructuring plan was instigated with the objective of bringing certainty and
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