Nordea Bank Abp · OMXHEX:NDA_FI
Nordea Bank Abp — Nordic Baltic Holding — Merger or Acquisition (October 2000)
30 slides from Nordea Bank Abp's merger presentation, Oct 16, 2000
Slide 1: The Leading Financial Institution in the Nordic and Baltic Region
The Leading Financial Institution in the Nordic and Baltic Region Nordic Ideas - fulfilling customer aspirations
Slide 2: Vesa Vainio
Vesa Vainio Chairman, Nordic Baltic Holding
Slide 3: Welcome
WELCOME Press Conference 16 October 2000 Oslo, Stockholm, Helsinki, Copenhagen Nordic Baltic Holding Government Bank Investment Fund Christiania Bank og Kreditkasse
Slide 4: Participants
Participants n Jan Willy Hopland Managing Director, Government Bank Investment Fund n Vesa Vainio Chairman, Nordic Baltic Holding n Hans Dalborg CEO, Nordic Baltic Holding n Thorleif Krarup Deputy CEO, Nordic Baltic Holding n Harald Ankværn Chairman, Christiania Bank og Kreditkasse n Tom Ruud CEO, C
Slide 5: Press Conference
Press Conference n Four Nordic Capitals n Internet n Scandinavian, English n Local languages and summary in English n Oslo, Lars Thalén n Helsinki, Lauri Peltola n Stockholm, Björn Westberg n Copenhagen, Morten Ravn
Slide 6: Vesa Vainio
Vesa Vainio Chairman, Nordic Baltic Holding
Slide 7: Joint Nordic vision
Joint Nordic vision n Benefits to customers l Broader product portfolio l Larger capital base n Benefits to shareholders l Increased competitiveness and growth l Synergies l Attractive share n Benefits to employees l Sharing of competence l Nordic opportunities
Slide 8: Nordic group through cross border mergers
Nordic group through cross border mergers n 1997 - 1998 l Merita and Nordbanken decide to merge l Invitation to join merger for growth n 1999 l MeritaNordbanken offer to shareholders of Christiania Bank og Kreditkasse l Unibank and Tryg Baltica merge to form Unidanmark l Merita Abp and Nordbanken Ho
Slide 9: Jan Willy Hopland
Jan Willy Hopland Managing Director, Norwegian Government Bank Investment Fund
Slide 10: Wide and thorough process
Wide and thorough process Why a closed auction process? n A number of the potentially interested parties would not take part in an open public market process n Relevant leading international financial institutions were contacted n Confidentiality agreement secures confidentiality with respect to who
Slide 11: Wide and thorough process
Wide and thorough process Multiple bidding rounds n A clear winner with price and conditions better than other bids n The present offer is the best offer any known financial institution is willing to submit for the shares in Christiania Bank today
Slide 12: The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share
The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share n MeritaNordbanken has offered NOK 49 per share in cash for CBK l 7,5% interest rate compensation from time of acceptance n The GBIF has accepted the offer from MeritaNordbanken n The offer values CBK at NOK 27.0 billion l
Slide 13: The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share
The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share n March 1999: The GBIF carries out a sale of 16% of the shares in CBK l The shares were placed at NOK 30.60 l Reduced the government ownership in CBK to 34.6% n 20 September 1999: MeritaNordbanken offers NOK 44 per share f
Slide 14: The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share
The GBIF is selling its stake in CBK to MeritaNordbanken for NOK 49 per share n 20 June: Based on the Storting’ s resolution, the Ministry of Finance gives the GBIF the mandate of carrying out a sale process for the shares in CBK n The GBIF, supported by Schroder Salomon Smith Barney and Fondsfinans
Slide 15: Hans Dalborg
Hans Dalborg CEO, Nordic Baltic Holding
Slide 16: Fulfilling our vision - growth in Norway
Fulfilling our vision - growth in Norway n Agreement for Christiania Bank og Kreditkasse to join Nordic Baltic Holding n Increased competitiveness for growth n Clarity n Focus on benefits from sharing Nordic ideas n Rapid integration process
Slide 17: Attractive revised public offer
Attractive revised public offer n NOK 49 per share n Interest compensation 7.5 percent from today n Due Diligence condition waived n Remaining conditions l 90 percent to accept l Regulatory approval n Offer period ends 3 November, 2000 n Letter to all shareholders with acceptance form
Slide 18: A strong business case
A strong business case n EUR 110 million synergies l EUR 65 million cost synergies l EUR 45 million revenue synergies n Increase of earnings per share n EUR 90 million restructuring cost n Complementary competencies
Slide 19: The New Group
The New Group n 9 million private customers n 700,000 corporate and institutional customers n 1.8 million e-customers n 1,260 bank branches and 125 insurance service centres n EUR 107 billion assets under management n EUR 221 billion total assets n EUR 131 billion total lending n Tier 1 capital meet
Slide 20: Sharing of Nordic Ideas
Sharing of Nordic Ideas n Cross selling of products and concepts n e-banking n Shared customer concepts n Asset Management - savings products n Investment Banking n Cash Management n Identify best Christiania Bank og Kreditkasse solutions to be marketed in Finland, Sweden and Denmark n Largest Nordi
Slide 21: A rewarding future together
A rewarding future together n Broad range of products and services to private, corporate and institutional customers n Christiania Bank og Kreditkasse skills, cross selling and increased investment capacity n Group centres of competence in Shipping, Oil and Gas and Offshore and Fisheries in Norway n
Slide 22: Harald Ankværn
Harald Ankværn Chairman, Christiania Bank og Kreditkasse
Slide 23: Thorleif Krarup
Thorleif Krarup Deputy CEO, Nordic Baltic Holding
Slide 24: Working together - integration process
Working together - integration process n Immediate joint planning l When 90 percent acceptances reached n Efficient implementation under line management responsibility l When regulatory approval obtained
Slide 25: Commitment to deliver
Commitment to deliver n Christiania Bank og Kreditkasse best practice to rest of group - and vice versa n Group centres of competence in Norway n Gradual introduction of improved products and services n Integration and cross-selling between K-BANK and Vesta n Overlapping functions to be co-ordinated
Slide 26: Focused value creation in NBH
Focused value creation in NBH n Concentration on core businesses n Operational excellence n Optimal financial structure n Reliable earnings growth
Slide 27: Tom Ruud
Tom Ruud CEO, Christiania Bank og Kredittkasse
Slide 28: Vesa Vainio
Vesa Vainio Chairman, Nordic Baltic Holding
Slide 29: Going forward together
Going forward together n Professional sales process to get highest offer n 90 percent acceptances n Speedy regulatory approvals n Christiania Bank og Kreditkasse - welcome to Nordic Baltic Holding n Employees welcome prospects of being part of Nordic Baltic Holding n Board and Management of Christia
Slide 30: The Leading Financial Institution in the Nordic and Baltic Region
The Leading Financial Institution in the Nordic and Baltic Region Nordic Ideas - fulfilling customer aspirations
Nordic Baltic Holding — Merger or Acquisition (October 2000) on 6ix