Brief: Aktia Buys Wealth Management Operations Of Taaleri

Aktia Bank Abp

10/03/2021 06:04

March 10 (Reuters) - Aktia Bank Abp  AKTIA.HE :
    * REG-AKTIA ACQUIRES THE WEALTH MANAGEMENT OPERATIONS OF
TAALERI
AND COMPANIES INITIATE CO-OPERATION SUPPORTING THE STRATEGY OF
BOTH PARTIES
    * REG-AKTIA ACQUIRES THE WEALTH MANAGEMENT OPERATIONS OF
TAALERI
AND COMPANIES INITIATE CO-OPERATION SUPPORTING THE STRATEGY OF
BOTH PARTIES
    * - ACQUIRES WEALTH MANAGEMENT OPERATIONS OF TAALERI AND
COMPANIES
INITIATE CO-OPERATION SUPPORTING STRATEGY OF BOTH PARTIES
    * AKTIA HAS AGREED TO ACQUIRE WEALTH MANAGEMENT OPERATIONS
OF
TAALERI, INCLUDING 100% OF FOLLOWING COMPANIES: TAALERI WEALTH
MANAGEMENT LTD, TAALERI FUND MANAGEMENT LTD, TAALERI TAX
SERVICES LTD AND EVERVEST LTD
    * PURCHASE PRICE IS EUR 120 MILLION (ON A CASH AND DEBT FREE
BASIS), OF WHICH UP TO EUR 10 MILLION CAN BE PAID WITH AKTIA
SHARES.
    * DIRECTS ITS SHARE ISSUE TO BE SUBSCRIBED BY TAALERI IN
CONJUNCTION WITH COMPLETION OF TRANSACTION
    * REST OF PAYMENT WILL BE DELIVERED IN CASH
    * IN CONJUNCTION WITH TRANSACTION, AKTIA FUND MANAGEMENT
COMPANY
LTD AND AKTIA WILL SELL BUSINESS OPERATIONS FOR PORTFOLIO
MANAGEMENT OF SPECIAL INVESTMENT FUND (NON-UCITS) AKTIA
COMMERCIAL PROPERTIES AS WELL AS FUND AKTIA INFRA I KY TO
TAALERI
    * AS A PART OF TRANSACTION, PARTIES HAVE AGREED ON
INITIATING
CO-OPERATION THAT SUPPORTS STRATEGY OF BOTH PARTIES
    * SYNERGY GAINS ON AN ANNUAL LEVEL ARE ESTIMATED TO AMOUNT
TO EUR
8 MILLION AND THEY ARE EXPECTED TO BE REALISED IN FULL DURING
2023.

Source text for Eikon:  ID:nGNE5xPlRK 
Further company coverage:  AKTIA.HE 

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