TAALERI PLC PRESS RELEASE 14 JULY 2021 AT 9:10 (EEST)
Taaleri's associated company Fellow Finance merges with Evli's banking business - Taaleri continues as a significant owner in the new Fellow Bank
Taaleri will continue as a significant owner in the new Fellow Bank, which will be formed when Taaleri's associated company Fellow Finance Plc and Evli Pankki Plc's banking business merge. The companies announced the merger today. After the transaction, Taaleri's holding in Fellow Bank will be 17.6 per cent. Under the arrangement, the main shareholders will strengthen the new company’s equity. The company will have over EUR 30 million in equity when starting operations, which will enable significantly growing the lending portfolio. Taaleri's share of the capitalization is approximately EUR 2.5 million.
“We see the merger accelerating the implementation of Fellow Finance’s strategy and increasing the company’s shareholder value. Fellow Bank has excellent opportunities to grow quickly and profitably,” says Robin Lindahl, CEO of Taaleri.
The implementation of the arrangement requires the approval of both companies’ extraordinary general meeting and several authority authorisations and approvals. The arrangement is intended to be carried out in full during the first half of 2022.
Taaleri Plc
Communications
For further information, please contact:
CEO Robin Lindahl, +358 50 595 9616, robin.lindahl@taaleri.com
Taaleri in brief
Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We have been a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Our vision is to be a Nordic pioneer in alternative investments focusing on sustainability.
Taaleri has two business segments: Private Asset Management and Strategic Investments. Private assets management consists of renewable energy, real estate, bioindustry and infrastructure businesses. The Strategic Investments segment consists of Garantia Insurance Company Ltd.
Taaleri has EUR 1.7 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on the Nasdaq Helsinki.
Siri Markula, Head of Communications and IR, tel. +358 40 743 2177, siri.markula@taaleri.com