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Article: Approach puts AMP spin-off HHG in play.(HHG PLC's merging)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- February 6, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb 06, 2005 (The Australian Financial Review - ABIX via COMTEX)
HHG, the British insurance spin-off of Australian financial services major AMP, is in demand. In December 2004, HHG said it had agreed to sell its closed life assets to Life Company Investor Group for Stg1.025 billion in cash. However, on the night of 3 February 2005, it announced that Resolution Life had made an "informal approach". It is believed no break fees are involved in the first, as yet unconsummated deal. HHG's popularity is a boon to those AMP shareholders who automatically gained HHG shares in its float, given that on 4 February 2005, the scrip closed at $A1.69, compared with the ...