Sampo planning to spin-off Mandatum

Board of Directors of Sampo announced a strategic review of Mandatum’s role within the Group. Following an assessment of options, the Board has resolved to propose a partial demerger of Sampo plc to separate Mandatum from the Sampo Group.

The demerger would create a leading pure-play Nordic P&C insurer capable of delivering high and stable returns on capital, and an independent Mandatum.

As demerger consideration, Sampo shareholders would receive one new share in Mandatum plc, the company to be incorporated in the demerger on the effective date, which is expected to be 1 October 2023, for each existing series A or series B share in Sampo plc. Mandatum would only have one share class. Shares in Mandatum would be admitted for trading on Nasdaq Helsinki.

As I currently hold 41 shares of Sampo Group, this would mean that I will be receiving 41 shares of Mandatum once this demerger will be completed.