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Hansabank takeover

18.08.2005

Earlier this year Swedbank acquired Hansapank, the largest public company in the Baltic states. With its EUR 1.7 billion size, it was the largest ever single M&A transaction carried out in the Baltics.

Swedbank began the process with a public takeover bid for 40% of the shares in Hansapank. It eventually acquired approximately 99% of the shares in the company through public takeover and simultaneous market trading.

Following the public takeover Swedbank carried out successful squeeze-out proceedings, resulting in the acquisition of 100% of the Hansapank shares on June 30 2005. As a result Hansapank's shares were delisted from the Tallinn Stock Exchange.

Due to its size, this transaction represented a serious test for the public takeover rules and financial supervision authorities in Estonia. A high level of public and media interest in the transaction drew attention to some original legal issues in Estonian practice.

Tark & Co team advising Swedbank included partners Hannes Vallikivi and Risto Vahimets and associates Marit Savi and Meelis Hint.

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