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MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Sampo plc    SAMPO   FI0009003305

SAMPO PLC

(SAMPO)
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Sampo Oyj Supplement To Sampo's Stock Exchange Release Published On 28 November 2019 At 9:30 Am Eet: If Acquires Roadside Assistance Company Viking

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11/28/2019 | 08:00am EST
TIDMSAMPO 
 
 
   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 
stations. 
 
   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 
2018. 
 
   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 
million. 
 
   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. 
 
   SAMPO PLC 
 
   Maria Silander 
 
   Communications Manager, Media Relations 
 
   tel. +358 10 516 0031 
 
   Further information: 
 
   Måns Edsman 
 
   CFO 
 
   If P&C Insurance Holding Ltd (publ) 
 
   tel. +46 10 603 7174 
 
   Mirko Hurmerinta 
 
   IR & Communications Specialist 
 
   Sampo plc 
 
   tel. +358 10 516 0032 
 
   Distribution: 
 
   Nasdaq Helsinki 
 
   London Stock Exchange 
 
   The principal media 
 
   Financial Supervisory Authority 
 
   https://www.globenewswire.com/Tracker?data=U33YknDm0ZBvMmSf_k2bD2z2WXyGJ2oDvu4x6j72lZUFmQDMxN0M9aRxA97s-Nmlg9FRiAivRmZNWCtL1CvhHg== 
www.sampo.com 
 
 
 
 

Stocks mentioned in the article
ChangeLast1st jan.
LONDON STOCK EXCHANGE PLC -0.46% 7732 Delayed Quote.0.23%
NASDAQ COMP. 1.50% 9274.478462 Delayed Quote.3.82%
NORDIC GROUP LIMITED -3.23% 0.3 End-of-day quote.3.45%
SAMPO PLC 1.24% 40.89 Delayed Quote.5.32%
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