Market announcement
AS LHV Group
LEI code
529900JG015JC10LED24
Size of the entity
Large group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Credit institution
Country of registered office
Estonia
General information
Categories
Other price sensitive information
Unique data record identifier
5330
Submission date and time
29.01.2016 08:33:13
Content of announcement in Estonian
Title
AS LHV Varahaldus ostab Danske Bank A/S-ilt Eestis asuva varahaldusettevõtte Danske Capital AS-i
Message
Täna, 29. jaanuaril 2016, sõlmis AS-i LHV Group tütarettevõtja Aktsiaselts LHV
Varahaldus Danske Bank A/S-i ja Danske Bank A/S-i Eesti filiaaliga aktsiate
müügilepingu, mille kohaselt Aktsiaselts LHV Varahaldus ostab 100% Danske
Capital AS-i aktsiatest. Tehingu lõpuleviimise eeltingimusteks on
Finantsinspektsioonilt heakskiidu ning Konkurentsiametilt koondumise loa
saamine.
Tehing viiakse eelduslikult lõpule käesoleva aasta esimese poolaasta jooksul,
kui kõik eeltingimused on selleks ajaks täidetud. Tehingu lõplik hind
määratakse kindlaks tehingu lõpule viimise hetkel ning AS LHV Group avalikustab
selle pärast kindlaksmääramist. Tehingu finantseerimiseks suurendab AS LHV
Group Aktsiaseltsi LHV Varahaldus aktsiakapitali ning ostab Aktsiaseltsi LHV
Varahaldus poolt emiteeritavaid allutatud võlakirju.
Tehingu eesmärk on laiendada Aktsiaseltsi LHV Varahaldus äritegevust ja seeläbi
pakkuda II samba pensionifondide klientidele parimat pikaajalist
investeerimisteenust. Pärast tehingu lõpuleviimist on AS-i LHV Varahaldus
turuosa kohustuslike pensionifondide osas ligikaudu 30%.
Danske Capital AS valitseb kolme kohustuslikku pensionifondi ning kahte
vabatahtlikku pensionifondi. Danske Capital AS-i valitsetavate pensionivarade
maht on hetkel 235,8 miljonit eurot ning Danske kohustuslikes pensionifondides
on üle 43 tuhande aktiivse kliendi.
LHV gruppi kuuluv fondivalitseja Aktsiaselts LHV Varahaldus valitseb viit
kohustuslikku pensionifondi, üht vabatahtlikku pensionifondi ning üht
eurofondi. LHV pensionifondidel on ligikaudu 130 tuhat aktiivset klienti.
„Loodan, et mõlema fondivalitseja kliendid võivad tänase sammuga rahule jääda,
sest liituvad tugevad fondivalitsejad, kes jagavad investeerimisel samu
põhimõtteid ning tähtsustavad klientide vara hoidmist ka keerulistes
turutingimustes,“ ütles Aktsiaseltsi LHV Varahaldus juhatuse esimees Mihkel
Oja.
Pärast tehingu lõpuleviimist on kavas Danske Capital AS ühendada Aktsiaseltsiga
LHV Varahaldus. Edaspidine ühinemiskava näeb ette sarnase strateegiaga
pensionifondide liitmist. Ühendavateks fondideks on LHV pensionifondid ning
ühendatavateks Danske Capital AS-i valitsetavad fondid.
Tehing ei ole käsitletav tehinguna seotud isikuga Nasdaq Tallinna Börsi
reglemendi tähenduses ega avalda olulist mõju AS-i LHV Group tegevusele. AS-i
LHV Group nõukogu ega juhatuse liikmed ei ole tehingust muul viisil isiklikult
huvitatud.
Priit Rum
LHV kommunikatsioonijuht
Telefon: 502 0786
E-post: [email protected]
Julia Garanža
Kommunikatsiooni- ja turundusjuht
AS LHV Varahaldus
Telefon: 5668 1622
E-post: [email protected]
Content of announcement in English
Title
AS LHV Varahaldus is purchasing an Estonian-established asset management company Danske Capital AS from Danske Bank A/S
Message
Today on January 29, 2016, AS LHV Varahaldus - a subsidiary of AS LHV Group has
entered into a share purchase agreement with Danske Bank A/S and Danske Bank
A/S Eesti filiaal pursuant to which Aktsiaselts LHV Varahaldus is to purchase
100% of the shares of Danske Capital AS. The finalization of the transaction is
subject to the approval of the Estonian Financial Supervision Authority
(Finantsinspektsioon) and the Estonian Competition Authority (Konkurentsiamet).
The transaction is presumably finalized during the first half-year, provided
that all the conditions precedent to the finalization have been fulfilled. The
transaction price shall be determined upon the finalization and AS LHV Group
shall announce it thereafter. In order to finance the transaction, AS LHV Group
is prior to the transaction going to increase the share capital of Aktsiaselts
LHV Varahaldus and purchase subordinated bonds of Aktsiaselts LHV Varahaldus.
The aim of the transaction is to expand the business activities of Aktsiaselts
LHV Varahaldus and thereby offer the mandatory pension fund clients the best
long-term investment service. After the finalization of the transaction, the
mandatory pension fund market share of Aktsiaselts LHV Varahaldus shall be
approximately 30%.
Danske Capital AS manages three mandatory pension funds and two voluntary
pension funds. The assets under management of Danske Capital AS is currently
235,8 million euros and there are over 43 thousand active clients in the Danske
mandatory pension funds.
Aktsiaselts LHV Varahaldus, a fund management company which belongs to LHV
group, manages five mandatory pension funds, one voluntary pension fund and one
UCITS fund. LHV pension funds have about 130 thousand active clients. “I hope
that the clients of both management companies may be content with today’s
undertaking as strong management companies are united which follow the same
investment principles and prioritize the preservation of the clients’ assets
also in difficult market conditions,” said Mihkel Oja, chairman of the
management board of Aktsiaselts LHV Varahaldus.
After finalization of the transaction the plan is to merge Danske Capital AS
with Aktsiaselts LHV Varahaldus. As the following step, the plan is to merge
pension funds with similar investments strategies. The receiving funds shall be
LHV pension funds and the merging funds shall be the funds managed by Danske
Capital AS.
The transaction is not considered to be a transaction with related parties in
the meaning of the rules and regulations of Nasdaq Tallinn stock exchange and
it does not have a direct effect on the economic activities of AS LHV Group.
The management board and the supervisory board members of AS LHV Group are not
personally interested in the transaction in any other way.
Priit Rum
Communication Manager
GSM: +372 502 0786
E-mail: [email protected]
Julia Garanža
Communications and Marketing Manager
AS LHV Varahaldus
GSM: +372 5668 1622
E-mail: [email protected]