45% of the share capital in Nordea Liv & Pension sold to customers

Nordea Life Holding AB has sold 45% of the share capital in its life-and-pension business Nordea Liv & Pension to Foreningen Norliv representing the customers of Nordea Liv & Pension. This means that the customers have taken over the majority stake. Plesner assisted Nordea Life Holding AB with the transaction.

The total price of the 45% of the shares in Nordea Liv & Pension was DKK 3.5bn. Following the purchase Foreningen Norliv owns 70% of the shares in Nordea Liv & Pension. A year ago, the customers acquired a 25% stake in the Danish pension fund.
Read more: "Twenty-five per cent of Nordea Liv & Pension sold to customers"

In connection with the new transaction it was agreed that the customers will acquire the Nordea Group's remaining 30% stake during the coming years to the effect that Nordea Liv & Pension will become a company wholly owned by its customers.

The completion of the transaction is expected to occur during the first quarter of 2018 when all approvals are in place.

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