December 21, 2017 / 7:11 AM / 6 months ago

BRIEF-Nordea sells 45 pct stake in Danish Nordea Liv & Pension for EUR 472 mln

Dec 21 (Reuters) - Nordea:

* EXTENDED CUSTOMER OWNERSHIP OF NORDEA LIV & PENSION IN DENMARK

* SAYS ‍FORENINGEN NORLIV WILL PURCHASE 45 PER CENT OF SHARE CAPITAL IN DANISH NORDEA LIV & PENSION, LIVSFORSIKRINGSSELSKAB A/S CONDITIONAL ON APPROVAL BY RELEVANT AUTHORITIES ANTICIPATED IN Q1 2018​

* SAYS ‍PURCHASE WILL INCREASE NORLIV’S STAKE TO 70 PER CENT IN NORDEA LIV & PENSION, LIVSFORSIKRINGSSELSKAB A/S.​

* NORLIV ACQUIRED A 25 PER CENT STAKE A YEAR AGO​

* SAYS ‍TRANSACTION WILL GENERATE A POST-TAX CAPITAL GAIN OF EUR 172M​

* SAYS ‍REMAINING HOLDING IN ASSOCIATED COMPANY (30 PER CENT) WILL BE REMEASURED TO FAIR VALUE AND IS EXPECTED TO LEAD TO AN ADDITIONAL POST-TAX GAIN OF EUR 115M FOR NORDEA GROUP​

* SAYS IN CONNECTION WITH TRANSACTION IT IS AGREED THAT NORDEA LIV & PENSION, LIVSFORSIKRINGSSELSKAB A/S WILL PURCHASE REMAINING 30 PER CENT STAKE FROM NORDEA LIFE HOLDING AB DURING COMING YEARS

* SAYS ‍SOLVENCY RATIO OF NLP GROUP WILL INCREASE BY APPROXIMATELY 10 PERCENTAGE POINTS​ Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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