Royal & SunAlliance has received a timely boost with the news that its Australian operations have been valued 20% higher than previously thought.
Royal & SunAlliance (R&SA) has received a timely boost with the news that its Australian operations have been valued higher than previously thought.
Broker Merrill Lynch has revealed its valuation of the unit at £746m - 20% higher then past estimates.
The news provides a much-needed boost to R&SA. The insurer has failed to find a trade buyer for the operations, despite having it up for sale for over a year.
Merrill Lynch said the trade was viewed, "as more palatable from a vendor's perspective. It would be difficult for an initial public offering in current market conditions to garner a full price for the assets."
