Altor’s acquisition of a minority stake in Mandatum

Avance advises Altor Fund VI in the acquisition of a minority stake in Mandatum Plc. Altor first acquired a stake in Mandatum following the demerger of Mandatum from Sampo and subsequent listing of Mandatum on Nasdaq Helsinki in October 2023. Since then, Altor has become Mandatum’s largest shareholder with a current holding of 10% of outstanding shares in Mandatum and an additional financial interest corresponding to 6.6% of Mandatum’s outstanding shares. The acquisition was subject to requisite ownership control clearances by the competent financial supervisory authorities in Finland and Luxembourg.

Altor has extensive experience in investing in regulated financial entities. Mandatum is a leading financial services provider in Finland, offering a wide array of services covering asset and wealth management, savings and pension services to corporate, institutional, wealth management and retail customers.