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Mandatum Life and Danske Bank continue co-operation as agreed

SAMPO PLC   STOCK EXCHANGE RELEASE   19 June 2018 at 3:50 pm

Mandatum Life and Danske Bank continue co-operation as agreed

Mandatum Life Insurance Company Limited (Mandatum Life) disclosed on 24 April 2018 that Mandatum Life and Danske Bank have agreed to continue their co-operation regarding the distribution and management of insurance products and the cancellation of the earlier agreed transfer of the insurance portfolio distributed by Danske Bank. The agreed transaction was subject to confirmation of the tax treatment.

Mandatum Life received a negative pre-ruling on the tax treatment of the transaction on 29 May 2018. However, Mandatum Life and Danske Bank have today agreed to continue their co-operation as agreed.

The parties of the transaction will appeal against the pre-ruling. If the tax treatment remains negative, Mandatum Life's financial risk is EUR 13 million.

Danske Bank will pay the agreed transaction price of EUR 197 million by the end of June 2018.

SAMPO PLC

Anniina Nykänen
IR & Communications Specialist


Additional information:

Petri Niemisvirta
Managing Director, Mandatum Life
tel. +358 10 516 7200

Distribution:
Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority
www.sampo.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sampo Oyj via Globenewswire

Copyright © Thomson Reuters 2018. All rights reserved.
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