Sampo divests entire Nordea stake for €1.84B

Sampo Oyj has sold all 200 million of its Nordea Bank Abp shares to institutional investors, generating €1.84 billion in gross proceeds.

Sampo had announced a sale of 100 million shares, but the transaction size was increased following strong market demand. Sampo said the deal will have a positive accounting effect of about €60 million on its consolidated IFRS net income.

Management plans to propose to a new share buyback program after the company's annual general meeting on May 18.

BofA Securities Europe SA and Citigroup Global Markets Europe AG acted as joint global coordinators, while Barclays Bank Ireland PLC, Deutsche Bank AG and Goldman Sachs Bank Europe SE served as joint bookrunners.