Expected capital gain for Nordea when Visa Inc acquires Visa Europe Ltd

Visa Inc. and Visa Europe Ltd. announced in November 2015 an agreement for Visa
Inc. to acquire Visa Europe. Nordea is a shareholder and member in Visa Europe
and expects to recognise a gain following the closing of the transaction. The
pre-tax gain for Nordea is expected to be within the range of EUR 90m to EUR
130m in cash, with an additional possible gain on preferred stock amounting to
around 25% of the cash portion. In addition Nordea will receive proceeds
stemming from divested operations, in which Nordea has claims that are not yet
possible to quantify.
The consideration for the entire Visa Europe transaction includes EUR 16.5bn,
whereof EUR 11.5bn in cash and EUR 5bn in preferred stock convertible into Visa
Inc. class A common stock, and a possible additional earn-out of maximum
EUR 4.7bn payable no earlier than on the fourth anniversary of the closing of
the transaction.
The transaction is subject to regulatory approvals and is expected to be closed
in the second quarter 2016.
For further information:
Rodney Alfven, Head of Investor Relations, +46 (0)72 235 05 15