Finnish Bank Offers $4.6B To Complete Stake In Affiliate

Law360, New York (February 6, 2014, 2:01 PM EST) -- The OP-Pohjola Group Central Cooperative said Thursday that it has made a €3.4 billion ($4.6 billion) cash offer to purchase the remaining shares of Pohjola Bank PLC that it does not already own in an effort to streamline the ownership structure of the Finnish banking cooperative.

OP-Pohjola offered to pay €16.80 per share of Pohjola Bank, which it said is a 30.5 percent premium on the share’s average trading price over the past year. OP-Pohjola and its subsidiaries currently own 55.4 percent of the bank’s shares...
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