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Chesnara now has 'real scale' in Netherlands says CEO Deane

John Deane, Chesnara chief executive

Chesnara’s (LON:CSN) deal to buy Legal & General’s Dutch business added 7% to its market value as investors reckoned it was a canny bit of business.
John Deane, chief executive, explains that not only does it give it real scale in the Netherlands, it makes it a credible buyer for other assets that may become available in the country.
Chesnara’s aim is to be the least troublesome share in an investor’s portfolio, he adds, and deals like this make that ambition easier to achieve.
At €160mln, the business is also being bought at a large discount to its cash generation potential.
Chesnara now has close to £7bn of assets under management and is a significant player in all three of its core markets of the Netherlands, UK and Sweden.

Quick facts: Chesnara PLC

Price: 274 GBX

LSE:CSN
Market: LSE
Market Cap: £411.21 m
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Chesnara PLC keeping its head down and doing more of the same after...

John Deane, chief executive of Chesnara Plc (LON:CSN), discusses with Proactive's Andrew Scott the life and pensions company's 2017 results. Full year profits more than doubled on the back of its acquisition of Legal and General’s Dutch insurance unit. Deane says: ''We're really...

on 30/3/18

2 min read