DANSKE BANK Plc
COMPANY ANNOUNCEMENT
27.10.2016
Mandatum Life to exercise its sell option
On 20 October 2016 Mandatum Life disclosed its decision not to prolong the existing agency agreement with Danske Bank as of 31 December 2016. The company also communicated that it would by the end of October 2016 decide whether it uses its right to sell the insurance portfolio sold through Danske Bank's branch network in Finland, to Danske Bank.
Mandatum Life has today announced that they will exercise the option and sell the portfolio to Danske Bank. The process is expected to be finalized during 2017.
The transfer of the portfolio will have no effect on existing customer agreements.
As communicated by Danske Bank on October 20, 2016, the upcoming transaction is expected to take place at fair value and have no effect on the outlook for Danske Bank Plc or for the Danske Bank Group.
Danske Bank Plc
Distribution:
Nasdaq Helsinki
London Stock Exchange
Luxembourg Stock Exchange