By Reuters Staff
2 Min Read
OSLO/STOCKHOLM (Reuters) - Sweden’s Nordax Bank offered on Thursday to buy Oslo-listed Norwegian Finans Holding, the owner of Bank Norwegian, in a cash transaction valued at 17.8 billion Norwegian crowns ($2.10 billion).
Norwegian Finans (NFH) shares surged 21% to trade at 99 crowns by 1057 GMT, above Nordax’s bid of 95, suggesting investors expect more bids could emerge.
“Nordax strongly believes that Bank Norwegian will have excellent opportunities to further expand its business together with Nordax,” the Swedish firm said.
Nordax said it had previously made undisclosed proposals to the board of NFH, although Thursday’s offer was higher and contained fewer conditions.
Sweden s Nordax bids $2 1 billion for Bank Norwegian parent
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Sweden s Nordax bids $2 1 billion for Bank Norwegian parent, shares jump
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By Venilia Amorim2021-02-10T14:45:00+00:00
Border to Coast Pensions Partnership, one of the UK’s largest public sector pension pools with total assets worth £46bn (€52bn), has committed over £370m in five new private equity funds.
Since its launch, the Partnership received £3bn of private market commitments from its partner funds, of which £1bn was earmarked for private equity last year – £500m for its first offering (Series 1A) and a further £485m for its second offering (Series 1B), 75% of which is now committed, it announced. The new investments form part of Border to Coast’s second private equity offering (series 1B).