Enskilda Securities and Orkla Finans (Fondsmegling) to Merge
Enskilda Securities has reached an agreement in principle to merge with Orkla Finans (Fondsmegling). The transaction is structured as an acquisition by Enskilda Securities of Orkla Finans (Fondsmegling). Orkla Finans (Fondsmegling) is one of the largest investment banks in Norway within equity trading, equity research and corporate finance, and has more than 100 employees. Enskilda Securities is one of the largest Nordic investment banks with similar activities. Enskilda Securities has approximately 420 employees. Total pro forma income amounted to approximately 2.5 SEK billion in 1999. The combination will be represented in nine countries. The brand name ‘Orkla Enskilda Securities’ will be used for the joint Norwegian business.