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Taaleri has completed the sale of its wealth management operations to Aktia and recognises a capital gain of approximately EUR 110 million
TAALERI PLC STOCK EXCHANGE RELEASE 30 APRIL 2021 AT 17:25 (EEST)
Taaleri has completed the sale of its wealth management operations to Aktia and recognises a capital gain of approximately EUR 110 million
Taaleri Plc has today completed the sale of its wealth management operations to Aktia Bank Plc. The transaction was announced on 10 March 2021. All the conditions for the completion of the transaction have been met. As part of the transaction, the companies agreed to a cooperation that supports the strategies of both companies, in which Aktia will sell Taaleri’s alternative investment products to its customers.
The divested business was sold at its enterprise value (excluding liabilities and cash) of EUR 120 million. Aktia pays EUR 10 million of the purchase price by directing 974,563 new Aktia shares to Taaleri. The subscription price per share for the new shares is EUR 10.2610. In addition, Taaleri received the net cash of the divested operations, approximately EUR 4 million, and dividends paid by Taaleri Wealth Management Ltd to Taaleri Plc during the beginning of the year, totaling EUR 7.2 million. Taaleri will recognise a capital gain of approximately EUR 110 million on the sale in the second quarter of 2021.
“The transaction supports Taaleri’s revised strategy, where our growth will be driven by private equity funds focusing on renewable energy and other alternative investments. Our vision is to be a Nordic forerunner in alternative investments focusing on sustainability. Customers, investors, personnel and owners all stand to benefit from the specialisation made possible by this transaction,” says Robin Lindahl, CEO of Taaleri.
“Wealth management has been at the heart of Taaleri during the company’s existence, and the transaction is a significant milestone in our history. I would like to thank the employees of our wealth management operations for their valuable, committed and uncompromising work at Taaleri. I am very happy that our cooperation will continue after the transaction.”
In the transaction, Taaleri’s wealth management operations were transferred to Aktia, including Taaleri Wealth Management Ltd, Taaleri Fund Management Company Ltd, Taaleri Tax Services Ltd and Evervest Ltd. Approximately 100 employees of Taaleri were transferred to Aktia, and five employees of Aktia’s real estate and infrastructure business shifted to Taaleri. Furthermore, Taaleri acquired business operations for the portfolio management of Aktia’s special investment fund investing in real estate as well as the Aktia Infra I Ky fund. Taaleri will act as the portfolio manager for Aktia’s special investment funds investing in real estate in the future.
Taaleri Plc
Board of Directors
For further information, please contact:
CEO Robin Lindahl, +358 50 595 9616, robin.lindahl@taaleri.com
Taaleri in brief
Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We are a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Taaleri’s vision is to be a Nordic forerunner in alternative investments focusing on sustainability.
Taaleri has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate, bioindustry and infrastructure businesses. The Strategic Investments segment consists of Garantia Insurance Company Ltd.
Taaleri has EUR 1.7 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on Nasdaq Helsinki.
Siri Markula, Head of Communications and IR, tel. +358 40 743 2177, siri.markula@taaleri.com
