Customer co-ownership of Nordea Liv & Pension in Denmark

17-11-16 7:10 | Press release | Regulatory press release

Foreningen NLP will purchase 25% of the share capital in Danish Nordea Liv & Pension, livsforsikringsselskab A/S.

Foreningen NLP representing the customers of Nordea Liv & Pension will purchase the minority stake from Nordea Life Holding AB.

- This is a unique opportunity to serve the mutual interests of customers and Nordea Liv & Pension, says Nils Bolmstrand, CEO of Nordea Life Holding AB.

- We welcome our customers as co-owners. For the benefit of customers and the company, we will in a co-ownership structure further strengthen the position of Nordea Liv & Pension in Denmark, Nils Bolmstrand says.

The price of the 25% of the share capital is DKK 2,175m (EUR 291m). The book value is DKK 1,098m. In addition, Foreningen NLP will invest DKK 932.5m in Tier 1 subordinated debt issued by Nordea Liv & Pension.

In relation to the transaction Nordea Liv & Pension will distribute EUR 375m to Nordea Life Holding AB improving the Life Group solvency capital position by approx.16% points. 

The transaction is signed by Foreningen NLP and Nordea Life Holding AB. It is subject to approval by the Danish FSA. 

 
For further information:

Rodney Alfvén, Head of Investor Relations,
+46 72 235 05 15
Ragnar Roos, Acting Head of Group External Communications,
+46 76 787 69 84
 

The information provided in this press release is information that Nordea Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.