Nordea has signed an agreement to acquire the remaining 17.70 per cent of JSB Orgresbank from the two management shareholders and the European Bank for Reconstruction and Development. Nordea has agreed with the minority shareholders to exercise its existing right to acquire the remaining shares. The transaction with the European Bank for Reconstruction and Development is subject to regulatory approvals and is expected to be completed in the first quarter of 2009.
Nordea will subsequently increase the equity capital of JSB Orgresbank through a new issue of approximately EUR 100 million.
Following the transaction Nordea owns 100 per cent of JSB Orgresbank, of which Nordea has been a majority owner since 29 March 2007.