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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 today received a negative decision on the tax treatment of the transaction. The decision differs from the parties' and their legal advisers' expectations.
In accordance with the agreement, the parties are committed to negotiate about the effects of the negative tax decision.
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