Nordea’s Biggest Shareholder to ‘Materially’ Reduce Stake (2)

The largest shareholder in Nordea Bank Abp plans to offload much of its roughly 16% stake in the Nordic region’s biggest lender following public calls from an activist investor.

Sampo Oyj, which is best known for its bets on the insurance industry, intends for its holding in Nordea to “be materially reduced over the next 18 months,” according to a statement released on its capital markets day in Helsinki. Chief Executive Officer Torbjorn Magnusson said that means “clearly more than half” will be offloaded.

Sampo’s exit from Nordea has been on the cards since November, when it sold about ...