Nordea and DNB to cooperate in Baltic States
Nordea Bank and DNB Bank have signed an agreement on cooperation in Estonia, Latvia and Lithuania to create a new leading bank in Baltic States with powerful Nordic roots.
The deal depends on conditions and approvals detailed in regulations.
It is planned that the deal in regards to the new bank’s formation will be concluded around Q2 2017. Until then, both banks will continue working as competitors.
It is intended that Nordea and DNB will have equal voting rights in the new bank. The division of economic property rights will be different. This is because it will be based on capital value of existing banks and the total investments in the new bank at the time of conclusion of the transaction.
▻http://bnn-news.com/nordea-and-dnb-to-cooperate-in-baltic-states-149783