Mandatum plc’s Saxo transaction will be completed on 13.5.2024 and financed by bank financing

Press releases 8.5.2024 at 11:30 AM EEST

Mandatum plc, press release 8 May 2024 at 11.30 a.m. EEST

Mandatum plc and Sampo plc have agreed that the transaction between the parties, in which Sampo sells its shares in Saxo Bank A/S to Mandatum, will be completed on 13 May 2024. Mandatum announced on 7 May 2024 that all regulatory approvals for the transaction have been obtained.

The shares included in the transaction represent 19.83 percent of Saxo Bank A/S's shares. The purchase price of EUR 302 million was determined in advance in the terms of the transaction. The transaction is financed by a bank loan of EUR 200 million and a cash payment, instead of the EUR 280 million vendor loan offered by Sampo, as previously reported. The transaction will have no impact on Mandatum's solvency position.

Additional information

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Mandatum in brief

Mandatum is a major financial services provider that combines expertise in in wealth management and life insurance. Mandatum offers customers a wide array of services covering asset and wealth management, savings and investment, compensation and rewards, pension plans and personal risk insurance. Mandatum offers services to corporate customers, retail customers as well as institutional and wealth management customers.  At the center of Mandatum's success are highly skilled personnel, strong brand, and investment track record.