Authorisation to execute merger plan for Nordea

2018-08-24 | Memos & decisions Bank

Finansinspektionen grants Nordea Bank AB authorisationto execute the merger plan prepared with its subsidiary, Nordea Bank Abp, under which Nordea Bank AB is absorbed by NordeaBank Abp.

Nordea Bank AB has submitted an application for authorisation to execute a merger plan. Nordea Bank AB, among other roles, is currently the parent company to the Finnish limited liability company Nordea Bank Abp, which has received authorisation from the European Central Bank to conduct banking and securities business in Finland. According to the merger plan, Nordea Bank AB's assets and liabilities will be taken over by Nordea Bank Abp through a "reverse cross-border merger" in the form of an absorption.

As a result of the merger, Nordea Bank Abp will become the parent company in the Nordea group. After the execution of the merger, Nordea Bank AB's operations, to the extent they originate from Sweden, will be conducted by Nordea Bank Abp through a branch in Sweden. Nordea Bank Abp will also conduct operations subject to authorisation through four subsidiaries in Sweden.

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