Nordea to divest all its shares in Nets Holding A/S

24 March 2014

Nordea is divesting its 20.7% stake in Nets Holding A/S (“Nets”, the “Company”) to a consortium consisting of funds advised by Advent International, ATP and Bain Capital.

As the payments industry is becoming increasingly complex and international, Nets needs a strong experienced owner with a clear strategic vision to take the Company to the next level of its development. Nordea believes its divestment and the new owner will be beneficial for the Company and the customers of Nets.

Nordea’s total proceeds of the divestment will be around DKK 3,500 million (approximately EUR 470 million) leading to a tax-free capital gain of almost DKK 2,700m (approximately EUR 360 million) to be recognised at closing of the transaction. The transaction is expected to positively impact Nordea’s core tier 1 ratio with close to 25 bp. In addition, Nordea will receive the dividend for 2013 totalling DKK 103 million (approximately EUR 14 million).

The transaction is subject to customary regulatory approval and is expected to close in the second quarter of 2014. For more details regarding the transaction and the involved parties, see today’s press release from Nets.

Nordea, press release