Nordea complements its pension operations with takeover of Sampo's entities

For EUR 95 million the company bought from Finnish Sampo two Polish firms - a life insurance company and a PTE pension fund. "We are now waiting for clearance from the Insurance and Pension Funds Supervisory Commission (KNUiFE) and the Anti-Monopoly Office to close the deal. I think this will take about four months," said Allan Polack, Nordea's president. Even though the money invested by the Scandinavians will be spent on two entities, most of it will be spent on the acquisition of PTE, which manages the fifth largest open pension fund on the market, Sampo. "In the Sampo group, the most interesting entity is the pension fund. The life insurance company is just a detail complementing Nordea's offer," said Marcin Broda, deputy president of consulting firm Ogma. (Puls Biznesu, p. 8) A.F.