Brief: Nordea To Acquire Pension Portfolios In Norway

Sparebanken Norge

06/07/2020 06:04

July 6 (Reuters) - Nordea Bank Abp  NDAFI.HE :
    * NORDEA TO ACQUIRE PENSION PORTFOLIOS FROM FRENDE
FORSIKRING IN
NORWAY
    * ACQUISITION IS SUBJECT TO CUSTOMARY REGULATORY APPROVALS
AND IS
EXPECTED TO CLOSE DURING Q4 OF 2020.
    * HAS AGREED TO ACQUIRE OCCUPATIONAL AND INDIVIDUAL PENSION
PORTFOLIOS FROM FRENDE LIVSFORSIKRING AS AND INTENDS TO COMBINE
BUSINESS WITH ITS NORWEGIAN INSURANCE SUBSIDIARY
LIVFORSIKRINGSSELSKAPET NORDEA LIV NORGE AS
    * AS PART OF TRANSACTION, NORDEA LIV WILL ALSO ENTER INTO A
LONG-TERM AGREEMENT TO DISTRIBUTE PENSION PRODUCTS WITH
NORWEGIAN SAVINGS BANKS WHICH OWN FRENDE

Source text for Eikon:  ID:nWkr38ylKn 
Further company coverage:  NDAFI.HE 

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