SWEDEN - Nordea has acquired a remaining 60% stake in property developer Nordisk Renting from venture capitalists 3i Group and Swedish national private equity fund AP6 for E118m (SEK1,075m).
Nordea already owns 40% of Nordisk Renting.
The move is now awaiting regulatory approval and is expected to have a “marginal effect” on Nordea's operating profit, said the firm.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.