MeritaNordbanken reduces its stake in Spar Finland

MeritaNordbanken reduces its stake in Spar Finland Mantica Oy, a subsidiary of the MeritaNordbanken Group, has sold a shareholding in Spar Finland Plc representing 15 per cent of the share capital and a voting interest of 24.6 per cent to the Swedish company Axel Johnson AB, which will thus become the second largest owner of Spar Finland. The shares remaining in the possession of Mantica Oy after the present transaction represent 25 per cent of Spar Finland's share capital and 41.3 per cent of its voting rights. Mantica Oy has the right to exchange the remaining Spar Finland shares for shares of the Swedish convenience goods chain D & D Dagligvaror AB if the latter is listed on the Stockholm Stock Exchange prior to June 30, 2001. Otherwise Mantica Oy will be entitled to sell most of the remaining holding to Axel Johnson AB. D & D Dagligvaror AB and Axel Johnson AB have agreed that in connection with the possible listing of D & D, the Spar Finland shares held by Axel Johnson AB will be transferred to D & D. Axel Johnson AB owns 50 per cent of the shares of D & D, while the other half is held by retailers. In connection with the sale the parties have also signed a shareholder agreement pursuant to which Mantica Oy will exercise its shareholder rights in mutual understanding with Axel Johnson AB. The transaction is subject to normal regulatory approval. The parties have agreed not to disclose the sale price. The alternative that will materialize will determine the final price. The transaction will have no significant impact on the results of the MeritaNordbanken Group. Further information: Timo Nikinmaa, Corporate Communications, tel. (358-9) 165 42471 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/01/19990401BIT00060/bit0001.doc http://www.bit.se/bitonline/1999/04/01/19990401BIT00060/bit0002.pdf