latest news releases from the newsroom
Swedbank Acquires a Major Holding in First Securities
STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- As part of its Nordic strategy, Swedbank Markets, the investment banking arm of Swedbank, has acquired a significant holding in First Securities, one of Norway's leading brokerages. Swedbank Markets and First Securities believe the acquisition will provide significant synergies regarding customer value-added and efficiency.
Observer AB Signs Long Term Financing Agreement or USD 175 Million
STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- Observer AB has strengthened its long-term financing by raising a USD 175 million Multi-Currency Revolving Credit Facility. The financing has a final maturity of 5 years and the transaction was arranged and syndicated by Nordea and SEB Merchant Banking with Svenska Handelsbanken as Senior Co-Arranger.
Wihlborgs Building New Offices for Telia in Malmo
STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) --Wihlborgs and Telia have signed a rental agreement which means that Wihlborgs is erecting a new office building for Telia in Vastra Hamnen [West Harbour] in Malmo. The agreement with Telia, which runs for ten years, covers approx. 12,000 sq.m. of the building's total lettable area of approx. 13,500 sq.m.. The total investment is SEK 290 million, and the annual rental value is approx. SEK 24.5 million.
Nordea Bank Finland Sells Majority Interest in Contant Oy to Sponsor Capital
STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- Nordea Bank Finland Plc and Nordea Finance Finland Ltd have agreed to sell the debt collection company Contant Oy to the funds managed by Sponsor Capital Oy. Contant is one of the two leading debt collection companies in Finland and it has until now been a wholly owned company of Nordea.
Akzo Nobel Strengthens Position in Korean Marine Coatings Market
ARNHEM, The Netherlands, June 27, 2002 (PRIMEZONE) -- Akzo Nobel has signed a contract with its joint venture partner in Korea, DPI Co., Ltd. (formally Daihan Ink & Paint Manufacturing Company Limited) to acquire the manufacturing site in Chilseo, South Korea. The site presently toll manufactures for the joint venture business, International Paint (Korea) (IPK). As part of the deal, Akzo Nobel will also acquire from DPI a further 10% shareholding in IPK.
Old Mutual plc
Nedcor Limited -- Nedcor Investment Bank: Further Cautionary Announcement
LONDON, June 27, 2002 (PRIMEZONE) -- Further to the cautionary announcement dated May 28, 2002, Old Mutual draws shareholders' attention to the further cautionary announcement issued yesterday by its subsidiary Nedcor Limited ("Nedcor"), the South African banking group, in which it has a 53% holding, in relation to its holding in Nedcor Investment Bank ("NIB").
Old Mutual plc
Nedcor Limited: Terms of the Claw-Back Offer
LONDON, June 27, 2002 (PRIMEZONE) -- Old Mutual draws attention to yesterday's announcement by its subsidiary Nedcor Limited ("Nedcor"), the South African banking group, in which it has a 53% stake, detailing the terms of the Clawback Offer to Nedcor shareholders. Old Mutual (South Africa) Limited or any wholly owned subsidiary will subscribe for shares in Nedcor and Nedcor shareholders will then have the right to acquire their pro rata portion of the new shares.
Skandia Signs Agreement for Chinese Market
STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- June, 2002, Skandia and the Chinese company Beijing State-owned Asset Management Corporation Limited (BSAMC) signed an agreement to start a joint-venture life assurance company in China. An application to conduct life assurance business has also been submitted to the Chinese authorities.