STOCKHOLM, Sweden, Sept. 30, 2002 (PRIMEZONE) -- Nordea (Other OTC:NRDDF) (Stockholm:NDA) has now obtained all required regulatory and competition authority approvals in regard to the previously announced sale of Nordea's General Insurance business (Tryg Vesta Group) to Tryg i Danmark smba. The sale has now been settled and completed.
Tryg i Danmark smba will therefore, from today, assume full control of Tryg Vesta Group. The economic responsibility for Tryg Vesta Group was transferred to Tryg i Danmark smba as per July 1, 2002. Final adjustments to the transferred net asset value of Tryg Vesta Group will result in an additional loss on the sale of EUR 4 million which will be accounted for in Nordea's third quarter results.
For further information:
Arne Liljedahl, Group CFO, +46 8 614 79 96 Sigurd Carlsen, Head of Investor Relations, +46 8 614 78 52 Torben Laustsen, Head of Group Identity and Communications, +46 8 614 79 16
Nordea is the leading financial services group in the Nordic and Baltic Sea region and operates through three business areas: Retail Banking, Corporate and Institutional Banking, Asset Management & Life. The Nordea Group has more than 10 million customers, 1,245 bank branches in 22 countries. The Nordea Group is a world leader in Internet banking, with 3.1 million e-customers. The Nordea share is listed in Stockholm, Helsinki and Copenhagen.
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