Chesnara has announced that it is to acquire the ‘open’ Dutch life insurer Legal & General Nederland from L&G for €160m (c£145m based on an exchange rate of €1.1/£1) which represents a 33% discount to its Economic Value (EcV). The acquisition will be financed via a combination of new equity, via a Firm Placing and Placing and Open Offer, existing cash resources and draw down on a new debt facility. The acquisition complements the existing Dutch closed
