Nordea's re-domiciliation of the parent company (2017-2018)
By means of a cross-border reversed merger, Nordea re-domiciled the parent company of the Nordea Group from Sweden to Finland, a country which is participating in the EU’s banking union.
The decision to re-domicile the parent company to Finland and the banking union was based on the Nordea Group’s unique pan-Nordic and international structure, which meant that the then existing national regulatory frameworks did not fully accommodate the Nordea Group’s operating model and recent strategic developments.
Nordea´s shareholders approved the merger plan at the Annual General Meeting (AGM) in March 2018. Following the AGM all approvals, authorizations and consents by the relevant authorities in Sweden and Finland were obtained during 2018. On 1 October 2018, the cross-border merger was executed, which resulted in Nordea Bank Abp replacing Nordea Bank AB (publ) as the parent company of the Nordea Group.