AS HANSAPANK

ANNOUNCEMENT

18.02.99

 

EESTI ELUKINDLUSTUS AND HANSABANK INSURANCE HAVE CONCLUDED THE 

MERGER AGREEMENT

 

 

Today, February 18, Hansabank Insurance and Eesti Elukindlustus 

signed the merger agreement. The merging party is Eesti 

Elukindlustus and the merged party is Hansabank Insurance. The 

share exchange ratio in the merger process is 1:1. The share 

capital of the merged institution is EEK 36 million.

 

At the end of 1998 the consolidated market share of Hansabank 

Insurance and Eesti Elukindlustus was 60%.

 

The extraordinary shareholders’ meetings will be held in March 

1999.

 

Both companies are fully-owned subsidiaries of Hansapank.

 

 

Additional information:

Priit Potisepp

Chairman of the Board of Eesti Elukindlustus

Phone: +372 6207 848

Mobile: +37250 68 716