Bore’s ownership in Försäkringsaktiebolaget Alandia
Rettig Group Ltd. has today through Bore Ltd., its wholly owned subsidiary, increased its holding in Försäkringsaktiebolaget Alandia to approximately 19.4 per cent. The size of the holding is expected to grow further to approximately 21.3 per cent, pending consent from the Financial Supervisory Authority. As a result, Försäkringsaktiebolaget Alandia will become an associated company of Rettig Group.
Rettig Group has earlier announced that preliminary calculations indicate that Bore’s share would be slightly more than 15 per cent. At the end of 2014 the size of the holding was confirmed to approximately 17.0 percent.
Through its earlier co-owner relationship with Redarnas Ömsesidiga Försäkringsbolag (RÖF), Bore is an owner of Försäkringsaktiebolaget Alandia since 2006. Bore is also one of the biggest customers of Försäkringsaktiebolaget Alandia.
During 2014 the general meetings of RÖF and its former wholly owned subsidiary Försäkringsaktiebolaget Alandia (Alandia) approved the de-mutualisation and merger plan. Following the consent of the Financial Supervisory Authority, RÖF was reorganised into a limited liability insurance company and merged with Alandia on 31 December 2014.
Hans Sohlström, President and CEO of Rettig Group:
”The de-mutualisation and merger has enabled shareholders of Försäkringsaktiebolaget Alandia who are interested to divest their stake to do so. Rettig Group has through Bore offered to purchase such shares that have been for sale. Our mission is value for generations which means that we are a responsible and long-term owner. Thanks to Bore we have a long history in the shipping industry and consider Alandia an interesting company that we want to support and develop.”
For further information, please contact:
Josefina Tallqvist, Rettig Group, Director, Corporate Communication and IR
Tel:+358 (0)40 7455276, firstname.lastname@example.org or www.rettig.fi
Rettig Group is a Finnish family business that creates value for generations through sustainable and long-term growth. In all our businesses we focus on leading market positions and more customer value with less environmental impact. Rettig Group owns Rettig ICC – Europe's leading supplier of heat emitters and indoor climate comfort; Nordkalk – northern Europe’s leading supplier of limestone-based products for industry, agriculture and environmental care; and Bore – the industrial shipping service provider. In 2013, Rettig Group’s turnover was EUR 974 million and the group had about 4,300 employees in 25 countries.