SAMPO PLC STOCK EXCHANGE RELEASE 28
November 2019 at 2:45 pm
Supplement to Sampo's stock exchange release published on 28 November
2019 at 9:30 am EET: If acquires roadside assistance company Viking
Sampo supplements the stock exchange release published on 28 November
2019 at 9:30 am EET with regard to Viking's financial development and
position and effects of the transactions on If and Sampo Group.
The supplemented information is presented below.
With this strategic acquisition If strengthens its position in the
Nordics by providing more comprehensive service for its insurance
customers and partners such as carmakers. The financial effect of the
acquisition on Sampo Group is not expected to be significant.
Viking is one of the leading roadside assistance companies in the
Nordics with over 3,000 employees in its franchise network and 320
In 2018, Viking's revenue was NOK 774 million (approximately EUR 77
million), which was generated primarily from group's subsidiaries in
Norway, Sweden and Denmark. The group has also a subsidiary in Finland
and a call center in Spain. In 2018, over 60 per cent of the revenue was
generated in Norway. In 2018, Viking's ebitda was NOK 45 million (EUR 4
million) and adjusted ebitda NOK 70 million (EUR 7 million). Viking's
total assets were NOK 1,027 million (EUR 102 million) at the end of
The enterprise value of EUR 114 million of the transaction consists of
the acquisition price of EUR 32 million and the net debt of 82 EUR
After the acquisition is finalized, Viking will continue its operations
normally as an independent company with its current organization.
The original stock exchange release is included below.
If acquires roadside assistance company Viking
If P&C Insurance Holding Ltd (publ) has today signed an agreement to buy
Viking Redningstjeneste TOPCO A/S. The acquisition price for 100 per
cent ownership is EUR 32 million (NOK 325 million) which is paid in
cash. The enterprise value is EUR 114 million.
Viking is a Nordic roadside assistance company headquartered in Norway.
It serves its customers through an extensive nationwide network of
stations in Norway, Sweden, Denmark and Finland. The acquisition of
Viking will strengthen If's offering towards its partners and further
improve If's position as the leading Nordic insurance and service
provider within the mobility area.
The transaction is subject to approval by competition authorities in
Norway and Sweden and is expected to be finalized in early 2020.
Communications Manager, Media Relations
tel. +358 10 516 0031
If P&C Insurance Holding Ltd (publ)
tel. +46 10 603 7174
IR & Communications Specialist
tel. +358 10 516 0032
London Stock Exchange
The principal media
Financial Supervisory Authority