Overwhelming support from Storebrand shareholders
- We are delighted that an overwhelming majority of the shareholders are in favour of Sampos bid for Storebrand. The acceptance of 83,5% proves that our shareholders support the view of Storebrands employees, management and board. Disregarding the shares owned by Den norske Bank (DnB), the shareholder support is 93%, says Leiv L. Nergaard, Chairman of Storebrand, in a comment.
Based on the strong support from the shareholder base of Storebrand, the Storebrand board are content with Sampos decision to extend the offer period. Storebrand is also positive to the fact that Sampo, in light of the conditions made by Folketrygdfondet and Orkla, will file their application for concession.
- The uncertainty related to the feasibility of the process is now significantly reduced, which should stimulate additional shareholders to accept the offer. The extension of the offer period will also allow shareholders who have not yet responded due to practical reasons, to do so. For these shareholders the extension of the deadline also represents a new opportunity to review the industrial and financial foundation for a partnership with Sampo, says Nergaard.
Idar Kreutzer, the Chief Executive Officer of Storebrand, emphasize that both Sampo and If as well as Storebrand now hope for a rapid and positive conclusion of the situation. -We firmly believe in the recommended solution, and the companies' 16,000 employees are eager to get started. If will improve on its position as the leading property and casualty insurance company in the Nordic region, and the combined Sampo and Storebrand will create a powerful Nordic unit, says Kreutzer.
Oslo, July 11. 2001
Further information: <br> <br>Egil Thompson, Executive Vice President, <br>Information: +47 22489586 - +47 93480012 <br>