Aktia Bank and the savings bank Vöyrin Säästöpankki have signed a definitive merger agreement

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| Source: Aktia Pankki Oyj
multilang-release

Aktia Bank plc
Stock Exchange Release
23.12.2013 at 11:15 am

 

 

Aktia Bank and the savings bank Vöyrin Säästöpankki have signed a definitive agreement on the merger between Vöyrin Säästöpankki and Aktia Bank. A stock exchange release regarding the letter of intent to merge was published by Aktia Bank on 24 October 2013. The transaction is to be implemented as conveyance of the bank business operations of Vöyrin Säästöpankki to Aktia Bank, on which Vöyrin Säästöpankki will be transformed into a foundation (Vörå Sparbanks Aktiastiftelse).

In this transaction, the unencumbered value of Vöyrin Säästöpankki's business operations is estimated to approximately EUR 11 million. The estimated affect of the transaction on Aktia Bank's result and key figures is neutral.

Implementing the transaction is subject to the Finnish Financial Supervisory Authority's approval of the transaction and customary terms and conditions. The merger is expected to take place at the latest in the third quarter of 2014.

As earlier informed, Vöyrin Säästöpankki's foundation will use a part of the purchase sum to buy approx. 1% of Aktia Bank on the market in the period up until 28 February 2015.

 

AKTIA BANK PLC

 

For more information, please contact:
Jussi Laitinen, CEO, Aktia Bank plc, tel. +358 10 247 6250
Jan Björklund, Managing Director, Vöyrin Säästöpankki, tel. +358 50 601 65

 

Distribution:
Nasdaq OMX Helsinki Ltd
Central media
www.aktia.fi

 

Aktia in brief:

Aktia Group provides a broad range of products within banking, insurance and real estate agency. Aktia operates mainly in coastal areas and inland growth areas. Aktia has about 300,000 customers who are served by nearly 1,000 employees at branch offices and via Internet and telephone services. Aktia's shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more information about Aktia see www.aktia.fi

Vöyrin Säästöpankki in short

Vöyrin Säästöpankki is an independent savings bank operating in the former municipality of Vöyri and the Vöyri archipelago. The bank was founded in 1924. Customers are mainly private persons, agricultural entrepreneurs and smaller businesse