Sampo Oyj Mandatum Life And Danske Bank Continue Co-operation As Agreed
June 19 2018 - 9:20AM
Dow Jones News
TIDMSAMPO
SAMPO PLC STOCK EXCHANGE RELEASE 19 June 2018 at 3:50 pm
Mandatum Life and Danske Bank continue co-operation as agreed
Mandatum Life Insurance Company Limited (Mandatum Life) disclosed on 24
April 2018 that Mandatum Life and Danske Bank have agreed to continue
their co-operation regarding the distribution and management of
insurance products and the cancellation of the earlier agreed transfer
of the insurance portfolio distributed by Danske Bank. The agreed
transaction was subject to confirmation of the tax treatment.
Mandatum Life received a negative pre-ruling on the tax treatment of the
transaction on 29 May 2018. However, Mandatum Life and Danske Bank have
today agreed to continue their co-operation as agreed.
The parties of the transaction will appeal against the pre-ruling. If
the tax treatment remains negative, Mandatum Life's financial risk is
EUR 13 million.
Danske Bank will pay the agreed transaction price of EUR 197 million by
the end of June 2018.
SAMPO PLC
Anniina Nykänen
IR & Communications Specialist
Additional information:
Petri Niemisvirta
Managing Director, Mandatum Life
tel. +358 10 516 7200
Distribution:
Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority
www.sampo.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Sampo Oyj via Globenewswire
http://www.sampo.com
(END) Dow Jones Newswires
June 19, 2018 09:05 ET (13:05 GMT)
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