Nordea completes acquisition of Gjensidige Bank

Friday 1 March 2019 11:54 CET | News

Gjensidige and Nordea have announced that Nordea has acquired Gjensidige Bank.

In connection with the completion of the transaction, the mutual distribution agreement between Nordea and Gjensidige Forsikring will also take effect.

As announced in July 2018, the transaction covers the acquisition of all shares in Gjensidige Bank as well as a strategic partnership agreement with Gjensidige Forsikring with respect to mutual distribution of non-life insurance and financial products in Norway. The acquisition has been approved by the Norwegian Competition Authority and the Financial Supervisory Authority of Norway.

Gjensidige Bank will until further notice continue to operate as an independent bank under its current brand name. Nordea welcomes Gjensidige Bank customers and employees.

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Keywords: Nordea, acquisition, Gjensidige Bank, insurance, Gjensidige Forsikring
Countries: World

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