Nordea to divest its shares in UC AB
COPENHAGEN, Denmark, April 24, 2018 (GLOBE NEWSWIRE) --
Paris Stock Exchange : XHFT
Nordea to divest its shares in UC AB
The Finnish credit information company Asiakastieto Group Plc ("Asiakastieto") listed on NASDAQ Helsinki has entered into an agreement with all owners of UC AB ("UC"), including Nordea, to acquire UC at a price amounting to appr. 340 mn euro. Nordea owns 26.1 % of the shares in UC and will receive 2,303,315 shares in Asiakastieto, equivalent to 9.6 % of the shares in the company after completion of the transaction, and appr. 26 mn euro in cash.
The transaction results in a capital gain amounting to appr. 86 mn euro for Nordea, expected to be recognised in the result in the second quarter of 2018, based on Asiakastieto's share price as at 23 April 2018 of 27.30 euro.
The transaction is subject to approval from the Board of Asiakastieto to, among other things, issue new shares (to be subscribed for by Nordea and the other sellers), relevant approval from competition authorities and certain other conditions.
UC and Asiakastieto will together form one of the leading companies within business- and credit information in the Nordic region, focusing on digital services and data innovation. Both companies already have similar business models, share common Nordic values and have solid histories. The combination is expected to strengthen the market position, create better growth opportunities and enable quick deliveries of innovative and cost-efficient services to customers both on the local market as well on the overall Nordic market.
For further information:
Claes Eliasson, Co-Head of Group External Communications, +46 721 416 712
This information is provided by RNS
The company news service from the London Stock Exchange
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nordea Bank AB (publ) via Globenewswire
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