45% of the share capital in Nordea Liv & Pension sold to customers
21 December 2017
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.
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.
