October 12, 2017 / 12:44 PM / 7 days ago

Finland's Sampo buys 7.6 pct stake in Swedish lender Nordax

HELSINKI, Oct 12 (Reuters) - Finnish financial holding group Sampo has bought a 7.6 percent stake in Swedish lender Nordax, a regulatory disclosure by Sweden’s financial watchdog showed on Thursday.

Nordax stock jumped 6 percent after the announcement which showed that Sampo had bought 8.5 million of its shares on October 11.

Sampo spokeswoman said the stake cost around 40 million euros ($47 million), adding that Sampo considered the acquisition as a financial investment.

During the past few weeks, Sampo has also announced plans to invest 265 million euros in Denmark’s Saxo Bank and 230 million euros in payment firm Nets.

Sampo’s biggest assets include property and casualty insurer If, a 21 percent stake in Nordea Bank as well as close to half of the shares in Danish insurer Topdanmark. ($1 = 0.8437 euros) (Reporting by Tuomas Forsell, editing by Jussi Rosendahl)

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