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Report: Sampo buys 7.6% stake in Nordax

Finnish financial group Sampo Oyj acquired 8.5 million shares, or a 7.6% stake, in Swedish bank Nordax Group AB (publ) for about €40 million, Reuters reported Oct. 12, citing a Swedish regulatory disclosure and a Sampo spokeswoman.

Sampo acquired shares in Nordax on Oct. 11. The spokeswoman reportedly said the Finnish group considered the transaction to be a financial investment.

The deal is Sampo's latest involving a Nordic financial institution in recent weeks. It agreed in late September to invest €230 million in Denmark-based payments provider Nets A/S, and earlier in October announced that it will buy a 19.9% stake in Denmark-based Saxo Bank A/S for €265 million.

Shares in Nordax rose about 6% after the deal was disclosed, Reuters said.