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Aktia Bank plc Stock Exchange Release 31 October 2008 at 14 p.m.
Aktia Bank plc and the Finnish branch of Kaupthing Bank hf. have signed on 31 October 2008 a letter of intent regarding the sale of Kaupthing's asset management business in Finland. The planned arrangement would involve transferring the subject operations as a transfer of business to a part of Aktia Group.
"The letter of intent is important to Aktia Bank as it supports the development objectives of institutional asset management and advisory services. Kaupthing's asset management business in Finland has both a good reputation and market position among institutional clients," says CEO Jussi Laitinen of Aktia Bank.
Laitinen continues by stating that the transaction would also bring many very enthusiastic professionals to the Aktia team while expanding the customer base of institutional clients.
The letter of intent is conditional and, among other matters, the transaction is subject to the approval of the relevant public authorities.
AKTIA BANK PLC
For further information, please contact:
Aktia Bank, Deputy CEO Robert Sergelius, tel. +358 10 247 6350
Kaupthing Finland, Country Director Lauri Rosendahl, tel. +358 9 4784 0301 or Kaupthing Asset Management Ari Korhonen, tel. 09 4784 0205
Issued by: Malin Pettersson, Head of Corporate Communications, tel. +358 10 247 6369
Distribution: OMX Helsinki Stock Exchange, the media
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
