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Investor raises stake in Arctic Securities

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Investor raises stake in Arctic Securities

ArcticSecurities AS said Feb. 20 that Trond Mohn, through his companyMeteva AS, acquired RASMUSSENGRUPPEN's ownership interest of 20% in Arctic.

Mohn already owned 12.5% of Arctic.

According to RASMUSSENGRUPPEN Managing Director DagRasmussen, RASMUSSENGRUPPEN will retain its ownership stake in the assetmanagement business through Arctic Asset Management and Arctic Fund Management.

Mohn's investment comes at a time when Arctic is increasingits emphasis on its international activities. Key initiatives for theseexpansive efforts include the establishment of a New York officeand increased presence in Sweden. Arctic is also pursuing businessopportunities in Asia.

Meanwhile, Arctic sees additional growth opportunities inNorway for Arctic Capital AS and recently founded Arctic Insurance Broker AS,in addition to the company's other Norwegian core businesses.