Analysts back Sampo reduction in Nordea stake as shift towards P&C continues 2020-11-11T08:10:00 Finnish financial services group Sampo has continued its refocus towards P&C insurance with the sale of 4 percent of Nordea, reducing its stake in the banking group from 19.9 percent to 15.9 percent.

Even if the company was to divest its Nordea stake completely, either as a result of a bankruptcy or a complete divestment of all shares, Sampo would have a solvency ratio of ~120%.

The Finnish holding company has faced intense pressure to dump the entire remaining stake, most recently from activist investor Elliott Management Corp. Sampo Group is made up of the parent company Sampo plc and its subsidiaries, If P&C, Mandatum, Hastings and Topdanmark. Sampo kirjasi arvonalentumistappion Nordea-osakkeistaan laskemalla kirjanpitoarvon 7,50 euroon osakkeelta Publicerad: 2021-02-11 (GlobeNewswire) Sampo impairs the book value of its Nordea shares to EUR 7.50 The stake was sold at 7.25 euros per share, to be compared to Nordea’s closing price of 7.59 euros on Tuesday, and Sampo said it would incur a 222 million euro ($262 million) accounting loss Finnish insurer Sampo books 899m euro impairment on Nordea stake Thu, Feb 11, 2021 - 4:40 PM The pan-Nordic insurer, which is the largest shareholder of Nordea with 15.9 per cent stake, said it had reduced the book value of its Nordea shares to 7.50 euros from 8.90 euros. Sampo started amassing its stake in Nordea the following year, gradually building it up to more than 20 per cent with one of its main owners — the charismatic Finnish businessman Björn Wahlroos The pan-Nordic insurer, which is the largest shareholder in Nordea with 15.9% stake, said it had reduced the book value of its Nordea shares to 7.50 euros from 8.90 euros.

Elliott said Sampo's share price has suffered due to weak share price performance of Nordea, and has in turn caused a substantial de-rating of Sampo's insurance assets. Elliott Capital Advisors has welcomed a decision by Sampo to sell down its stake in Nordea, which it said could turn the firm into a pure-play insurance champion and unlock 7 billion euros ($8.3 billion) in value. 11 Feb 2021 The pan-Nordic insurer, which is the largest shareholder of Nordea with 15.9% stake, said it had reduced the book value of its Nordea shares to 24 Feb 2021 Chief Executive Officer Torbjorn Magnusson said that means "clearly more than half" will be offloaded. Sampo's exit from Nordea has been on the In addition, it is a major shareholder in Nordea, the largest banking group in the Nordic region. Sampo plc owns approximately 20 % stake in Nordea Bank AB 11. helmikuu 2021 This article is reserved for subscribers. A "one-stop shopping" service for investors.

European companies. Sampo/Elliott: trouble at the mill.

Analysts back Sampo reduction in Nordea stake as shift towards P&C continues 2020-11-11T08:10:00 Finnish financial services group Sampo has continued its refocus towards P&C insurance with the sale of 4 percent of Nordea, reducing its stake in the banking group from 19.9 percent to 15.9 percent.

The shares were sold at € 7.25 apiece, and the sale generated gross proceeds of €1.17 billion. The offering, which represents 4% of the outstanding shares in Nordea, reduces Sampo… 2021-02-24 Sampo, which also owns the Sweden-based insurance company If, as well as almost half of Danish insurer Topdanmark A/S, holds 19.9% of Nordea’s outstanding shares. That makes it by far the largest shareholder in the bank, ahead of activist investor Cevian Capital, which has built a 4.4% stake since making its first purchases late 2018.

22 nov. 2018 — I dont own it yet but seriously thinking buying the first patch. Stable insurance performance and dividend growth. Yield is tempting at these

Sampo Oyj sold 162 million Nordea Bank Abp shares in an accelerated bookbuild offering to institutional investors. The shares were sold at € 7.25 apiece, and the sale generated gross proceeds of €1.17 billion.

Finnish financial services group Sampo has begun cutting its stake in Nordea, one of the Nordic region’s biggest banks, following pressure from Elliott International, the activist hedge fund, to Analysts back Sampo reduction in Nordea stake as shift towards P&C continues 2020-11-11T08:10:00 Finnish financial services group Sampo has continued its refocus towards P&C insurance with the sale of 4 percent of Nordea, reducing its stake in the banking group from 19.9 percent to 15.9 percent.
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Sampo Oyj sold 162 million Nordea Bank Abp shares in an accelerated bookbuild offering to institutional investors.

Sampo’s exit from Nordea has been on the cards since November, when it sold about 4 percent of the bank at a loss relative to the market price. The Finnish holding company has faced intense pressure to dump the entire remaining stake, most recently from activist investor Elliott Management Corp.
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Sampo isn’t planning to sell its Topdanmark stake, but sees “no opportunity” to increase its holding at this stage Aside from Nordea, Sampo owns If property and casualty insurer and Mandatum Life (and newly created Mandatum Asset Management overseeing the insurers’ assets).

In a survey of investors commissioned by Elliott, the vast majority of respondents indicated they would like to see a full exit from the Nordea stake within the next twelve months. FINNISH insurer Sampo, already the largest shareholder in leading Nordic bank Nordea, is to raise its stake to 21% through the purchase of €200m ($273m) of Nordea shares from the Swedish state, according to an interview given by Sampo CEO Kari Stadigh to newspaper Helsingin Sanomat.

Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro impairment charge due to a revaluation of its shares in banking group Nordea.

Sampo Group is made up of the parent company Sampo plc and its subsidiaries, If P&C, Mandatum, Hastings and Topdanmark.

FINNISH insurer Sampo, already the largest shareholder in leading Nordic bank Nordea, is to raise its stake to 21% through the purchase of €200m ($273m) of Nordea shares from the Swedish state, according to an interview given by Sampo CEO Kari Stadigh to newspaper Helsingin Sanomat.

Finnish financial group Sampo on Thursday reported a fourth-quarter loss as the company booked a 899 million euro impairment charge due to a revaluation of its shares in banking group Nordea.

19.9. Cevian Capital. 178.4. 4.4.