Aktia Pankki Oyj - Company Announcement

Aktia Bank and the savings bank Saaristosäästöpankki have signed a definitive merger agreement

Helsinki, Finland, 2013-10-30 15:50 CET (GLOBE NEWSWIRE) -- 

Aktia Bank plc
Stock Exchange Release
30.10.2013 at 4.50 p.m.



Aktia Bank and the savings bank Saaristosäästöpankki have signed a definitive
merger agreement 

Aktia Bank and the savings bank Saaristosäästöpankki have signed a definitive
agreement on the merger between Saaristosäästöpankki and Aktia Bank. A stock
exchange release regarding the letter of intent to merge was published by Aktia
Bank on 6 August 2013. Upon receipt of necessary approvals, the transaction was
carried out so that the owners of Saaristosäästöpankki sold all shares in
Saaristosäästöpankki to Aktia Bank. Henceforth, Saaristosäästöpankki will
operate as a subsidiary to Aktia Bank, and the the two banks will merge as soon
as possible. The merger is planned to take place during the first half of 2014. 

The transaction price amounts to EUR 6.9 million. Before the conveyance,
Saaristosäästöpankki paid EUR 2.3 million as extra dividend to its old
shareholders. The transaction price will be paid in cash. The total transaction
price, including an optional extra purchase price, may rise to a maximum amount
corresponding the net asset value of Saaristosäästöpankki, providing that
targeted improvement of result is achieved in the following three years. 

The estimated affect of the transaction on Aktia Bank's result and key figures
is neutral. 

The agreement also includes the prerequisites mentioned in the stock exchange
release dated 6 August 2013 concerning the sellers' commitment to acquire
shares in Aktia Bank and the buyer's commitment to, if necessary, issue shares
to the sellers. 



AKTIA BANK PLC

Jussi Laitinen, CEO, tel. +358 10 247 6250

Distribution:
Nasdaq OMX Helsinki Ltd
Central media
www.aktia.fi

Aktia in brief:
Aktia Group provides a broad range of products within banking, insurance and
real estate agency. Aktia operates mainly in coastal areas and inland growth
areas. Aktia has about 300,000 customers who are served by nearly 1,000
employees at branch offices and via Internet and telephone services. Aktia's
shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more information
about Aktia, see www.aktia.fi