Nordic Business Report-August 17, 2006-Pohjola Group to merge with OKO Bank Plc
(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish financial group OKO Bank Plc said on Thursday (17 August) that the boards of directors of OKO Bank and Pohjola Group Plc have approved a plan under which Pohjola, a fully-owned subsidiary of OKO Bank, will merge with its parent company by the end of 2006.
The merger aims to streamline the corporate structure of the OKO Bank Group, to increase the efficiency of business and to decrease administrative costs.
Since the merger is a subsidiary merger, no merger consideration will be paid.
((Comments on this story may be sent to [email protected]))
