Enskilda Securities has today completed the merger with Orkla Finans (Fondsmegling). The transaction is structured as an acquisition by Enskilda Securities of Orkla Finans (Fondsmegling) from Orkla, with payment in newly issued shares. Following the merger, Orkla will hold 22.5 % of the shares in Enskilda Securities AB and SEB the remaining 77.5 %. The merger is made as per January the 1:st, 2000.
The agreement was conditional upon the parties receiving necessary regulatory approvals. These approvals have now been received.
Per-Anders Ovin, CEO Enskilda Securities AB:
- "2000 has started very well for both Enskilda Securities and Orkla Finans (Fondsmegling). In addition, the merger has been very well received by both customers and employees. The work with integrating the two units is progressing in line with plans. This transaction has been important to Enskilda Securities in implementing our strategy. Clearly, we are now the leading Nordic investment bank. Based on this platform we will continue to strengthen our competence and position as a leading European investment bank within primarily the IT/Technology sectors."