Brief: Nordea To Acquire Topdanmark Life

Topdanmark A/S

18/03/2022 06:11

March 18 (Reuters) - Nordea Bank Abp  NDAFI.HE :
    * NORDEA TO ACQUIRE TOPDANMARK LIFE
    * TOPDANMARK LIFE IS A LIFE AND PENSION COMPANY IN DENMARK
WITH
ASSETS UNDER MANAGEMENT OF AROUND EUR 12BN AT END OF 2021
    * AGREED PRICE FOR TOPDANMARK LIFE IS AROUND EUR 270M AFTER
A
PRE-COMPLETION DIVIDEND HAS BEEN DISTRIBUTED TO TOPDANMARK,
REPRESENTING AN ESTIMATED P/E MULTIPLE OF APPROXIMATELY 13X
PROJECTED 2022 NET EARNINGS
    * TOPDANMARK LIFE WILL BE INTEGRATED INTO NORDEA AND
OPERATED
UNDER NORDEA BRAND.
    * TRANSACTION IS SUBJECT TO REGULATORY APPROVALS AND CLOSING
IS
EXPECTED IN SECOND HALF OF 2022.
    * TRANSACTION IS EXPECTED TO ABSORB UP TO 2BP OF CET1
CAPITAL

Source text for Eikon:  ID:nWkr1tPfXl 
Further company coverage:  NDAFI.HE 

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