Codan Holdings definition
Examples of Codan Holdings in a sentence
Following the Scandinavia Carve-Out, it is intended that an intragroup reorganisation will take place, resulting in a structure in which Scandi JVco holds Codan Holdings, and in turn Scandi JVco is held c.89.3% by Tryg (c.78.6% directly and c.10.7% indirectly through Scandi JVco2) and c.10.7% indirectly by Intact through Scandi JVco2 (the "Acquisition Completion Holding Structure").
The Scandinavia Carve-Out will be effected through the contribution of Codan Holdings by RIIH to Scandi JVco (a Danish company owned jointly by Intact and Tryg) in consideration for the issue of shares in Scandi JVco, and the subsequent transfer of those shares in Scandi JVco to members of the Intact Group and the Tryg Group.
Tryg acknowledges and accepts that Bidco and Intact will make the R2.7 Announcement in full reliance on a number of matters including Tryg's entry into, and compliance with its obligations under, this Agreement (including but not limited to its obligations under clause 5 to procure that the Consideration Shares are issued by ScandiJVCo to Codan Holdings) and the Tryg SPA.