AS HANSAPANK

ANNOUNCEMENT

30.04.99

 

HANSABANK WILL SELL EESTI KINDLUSTUS

 

Today Hansapank and the subsidiary of the Finnish Insurance Group 

Sampo, Sampo Enterprise Insurance Company Ltd., signed a share-

purchase agreement of AS Eesti Kindlustus. Although the negotiations 

were halted in February this year, they were restarted and the 

parties involved reached an agreement whereby Hansapank sells 100% 

of the shares of Eesti Kindlustus to Sampo. The sales price of the 

shares is EEK 165 million, however the transaction does not have a 

significant influence on Hansapank’s financial results.

 

Last year Hansapank’s board defined in its strategies p&c insurance 

as a financial investment and life-insurance as a strategic 

investment. As a result of this transaction Hansapank will exit from 

p&c insurance thereby completing the restructuring of its insurance 

activities.

 

Additional information:

Erkki Raasuke, CFO

Hansapank

Tel: +372 613 1221