GJNSY - A 5.5 Billion Deal Between Nordea And Gjensidige Which Leads To A Win-Win Situation For Sampo!
Executive Summary
On 2nd of July, Gjensidige (GJNSF)(GJNSY) announced that it would sell its bank subsidiary to Nordea (NRBAY)(NRDEF) for a price of NOK 5.5 billion ($660 million). Logically, some questions pop up in investors' minds. Why? Is it the good move? Is it the right price? What about the dividend sustainability? There are all proper questions. Let's try to answer them.
The Pros And Cons Of The Deal
As in each deal, there are pros and cons; let's list them and start with the pros.
1. An