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Nordea Nordea has signed a Memorandum of Understanding to sell its 24.82% holding in NCSD Holding AB (Nordic Central Securities Depository). The shares will be acquired by Euroclear PLC.
Nordea believes the proposed deal between NCSD, comprising former VPC AB and Finnish APK Ab, and Euroclear is logical considering the ongoing consolidation of the market for post-trade infrastructure. Euroclear is the leading player in the market for domestic and international securities transactions, and as such the optimal partner for NCSD. It is Nordea's view that the transaction will be beneficial for both investors and issuers.
The deal is subject to obtaining regulatory approvals and signing of the final agreement. Closing is expected during the second half of 2008.
Nordea will report a gain from the sale of approx. EUR 90m.
For further information: Johan Ekwall, Head of Investor Relations +46 8 614 7852 Anders Edlund, Communication Partner +46 702 29 16 91
