STOCKHOLM, Sweden, May 7, 2003 (PRIMEZONE) -- Nordea (Other OTC:NRDAF) (Other OTC:NRDEF) has today signed an agreement to sell all the shares in Nordisk Renting AB to The Royal Bank of Scotland plc. The price is EUR 104m after Nordea having received a dividend of EUR 134m. The deal is expected to be finalised during June and will result in a gain of approximately EUR 30m.
The sale is subject to approval by the Finnish competition authority.
In a comment on the sale Lars G Nordstrom, Group CEO of Nordea, says:
"The company has been very successful, but the sale of Nordisk Renting is in line with our focus on core business. We have found a competent and professional buyer that can develop the business even further. The sale will further improve the capital efficiency of the Nordea Group."
Nordisk Renting's business concept is to acquire, own and develop properties with financially strong companies and public authority partners as long-term tenants and partners. Nordisk Renting's clients are primarily large Swedish private companies. Clients also include the Swedish and Finnish governments, Swedish local authorities and other public partners.
For further information please see www.nordiskrenting.se.
For further information: Jakob Grinbaum, Executive Vice President, Head of Group Treasury +46 8 614 7891 Erik Evren, Chief Communication Officer +46 8 614 8611
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 and Asset Management & Life. TheNordea Group has more than 10 million customers and 1,240 bank branches.The Nordea Group is a world leader in Internet banking, with 3.4 millione-customers. The Nordea share is listed in Stockholm, Helsinki andCopenhagen.
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