Scor shares surge after peace accord with one-time bidder Covea
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Scor shares surge after peace accord with one-time bidder Covea

Scor logo with Kessler.jpg

Shares in Scor closed up more than 8% in Paris trading on Friday after the reinsurer and one-time bidder Covea unveiled a peace deal late yesterday to end litigation and set the stage for an exit of the mutual from the Scor shareholder register.

The agreement, announced after European markets closed, removes the overhang risk associated with Covea’s 8.5% stake in Scor by giving the French reinsurer a call option over the holding.

It

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