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.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.