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Acquisitions, divestments and larger investments

2007 - 2021 - Nordea

In 2007, Sampo started to buy shares of Nordea. In 2010, Sampo's shareholding in Nordea exceeded 20 per cent and the bank became an associated company of Sampo. The average price paid per share amounted to EUR 6.46.

In August 2019, Sampo’s ownership in Nordea decreased slightly below 20 per cent due to distribution of an extra dividend.

Release, 13 Aug 2019

Divestment of Nordea shares

In November 2020, Sampo reduced its ownership in Nordea from 19.9 per cent to 15.9 per cent. Sampo sold 162 million Nordea shares in an accelerated bookbuild offering to institutional investors. The transaction price was EUR 7.25 and gross proceeds EUR 1,174 million.

Release, 10 Nov 2020 (Sale)
Release, 10 Nov 2020 (Result of the sale) 

In May 2021, Sampo’s ownership in Nordea decreased to 11.9 per cent. Sampo sold 162 million Nordea shares to institutional investors. The transaction price was EUR 8.50 and gross proceeds EUR 1,377 million.

Release, 25 May 2021 (Sale)
Release, 26 May 2021 (Result of the sale)

In September 2021, Sampo’s ownership in Nordea decreased to 10.1 per cent. Sampo sold 73 million Nordea shares to institutional investors. The transaction generated approximately EUR 745 million in gross proceeds.

Release, 9 September 2021 (Sale)
Release, 10 September 2021 (Result of the sale)

2020 - Hastings

In August 2020, Sampo and a South African financial services investment holding company Rand Merchant Investment Holdings (RMI) made a recommended cash offer, through a jointly owned company, to acquire UK P&C insurance company Hastings.

The offer price was GPp 250 for each Hastings share, valuing the deal at approximately GBP 1.66 billion or approximately EUR 1.84 billion.

The deal was completed on 16 November 2020. Sampo owns 70 per cent and RMI 30 per cent of the jointly owned company, which became Sampo’s subsidiary. The size of Sampo’s investment is EUR 1.29 billion valued at the offer price.

Release, 5 Aug 2020
Release, 16 Nov 2020

2018 – 2020 - Intrum

In September 2018, Sampo’s ownership in Intrum exceeded 5 per cent. Intrum is a Swedish credit management company.

Sampo sold its 5.2 per cent stake of Intrum in February 2020.

2019 - Viking

In November 2019, Sampo announced that its subsidiary If has signed an agreement to acquire Norwegian roadside assistance company Viking. The acquisition price is EUR 32 million and the enterprise value of the transaction is EUR 114 million.

Release, 28 Nov 2019
Release, 8 Jan 2020

2019 - Norwegian Finans Holding

In August 2019, Sampo and Swedish Nordic Capital announced that they have agreed to acquire in total 17.47 per cent of Norwegian Finans Holding, which is the parent company of the online bank Bank Norwegian.

Sampo’s share of the company is approximately 6.3 per cent and the value of the investment is EUR 80 million.

Nordic Capital’s press release regarding the transaction

2018 - Nordax

In February 2018, Sampo and Swedish Nordic Capital made a recommended mandatory cash offer through NDX Intressenter (currently Nordax Holding AB) to acquire all outstanding shares in Nordax, a Swedish online bank specialized in consumer credit.

Nordic Capital holds 63.75 and Sampo 36.25 per cent of the shares and votes in Nordax Holding AB. The size of Sampo's investment was EUR 245 million.

Release, 8 Feb 2018
Release, 22 Mar 2018
Release, 6 Apr 2018

2017 - Saxo Bank

In October 2017, Sampo announced that it will buy 19.9 per cent of shares in Saxo Bank Group, a Danish fintech company specialized in online trading. At the same time, Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co., Ltd announced that it will increase its stake become majority shareholder with a total of 51.5 percent in Saxo Bank.

The size of Sampo's investment was EUR 265 million.

Release, 2 Oct 2017
Release, 14 Sep 2018

In July 2019, Sampo invested EUR 20 million, corresponding to its ownership, in Saxo in connection with the BinckBank acquisition made by Saxo.

2017 – Nets

In September 2017, Sampo participated as an indirect minority co-investor in the voluntary offer by Evergood 5 AS to acquire Nets, a Danish fintech company specialized in digital payments. Evergood 5 AS is a company controlled by funds managed and advised by Hellman & Friedman LLC.

The size of Sampo's investment was EUR 230 million.

Release, 25 Sep 2017

2011 – 2017 Topdanmark

In 2011, Sampo's (If P&C's) shareholding in Topdanmark exceeded 23 per cent and Sampo started to consolidate Topdanmark as an associated company.

In 2016, Sampo's ownership in Topdanmark increased to 33,34 per cent and Sampo made a mandatory no-premium offer for all shares in Topdanmark. Following the completion of the offer, Sampo held 41,11 per cent of the shares and voting rights in Topdanmark.

Since Q4/2017, Sampo has treated Topdanmark as a subsidiary. At the end of 2017, Sampo held 41,997,070 Topdanmark shares, corresponding 46.7 per cent of shares and 48.9 per cent of votes.

Release, 7 Sep 2016
Release, 26 Oct 2016
Release, 2 Oct 2017

2015 – Enento Group

In 2015, Sampo (Sampo plc and Mandatum Life) invested in Asiakastieto (Enento Group since June 2020), a Finnish provider of business and consumer information services. At the end of July 2020, Sampo held 12.2 per cent of shares and votes in Enento Group.

2014 – Suomi Mutual's with-profit group pension portfolio

In 2014, Sampo's subsidiary Mandatum Life acquired Suomi Mutual Life Insurance Company's with-profit group pension portfolio.

Release, 19 Mar 2014

2013 – Tryg's businesses in Finland

In 2013, Sampo's subsidiary If P&C acquired Danish Tryg's businesses in Finland. The Transaction price was EUR 15 million.

Release, 2 May 2013

2007 – Divestment of Sampo Bank

In 2007, Sampo sold its banking unit Sampo Bank to Danish Danske Bank. The transaction price was EUR 4.05 billion.

2001 - 2004 - If

In 2001, Sampo's P&C Insurance operations merged with Swedish If. Following the merger, Sampo owned 38.05 per cent of If. At the time, other shareholders of If were Storebrand (22.47%), Skandia (19.36%), Skandia Liv (10.06%) and Varma-Sampo (10.06%)

In 2004, If became a fully-owned subsidiary of Sampo in two phases. First, Sampo acquired 51.89 per cent of shares from Storebrand and Skandia and then the remaining 10.06 per cent of shares from Varma.

2001 – Mandatum Bank

In 2001, Sampo-Leonia acquired Mandatum Bank by directed share issue. The Group's name was shortened to Sampo.

2000 – Merger of Sampo and Leonia

In 2000, Sampo insurance company and Leonia bank merged into the Sampo-Leonia financial group.

Updated 10 Sep 2021