Taaleri will continue as a significant owner in the new Fellow Bank, which will be formed when Taaleri’s associated company Fellow Finance Plc and Evli Pankki Plc’s banking business merge. The companies announced the merger today. After the transaction, Taaleri’s holding in Fellow Bank will be 17.6 per cent. Under the arrangement, the main shareholders will strengthen the new company’s equity. The company will have over EUR 30 million in equity when starting operations, which will enable significantly growing the lending portfolio. Taaleri’s share of the capitalization is approximately EUR 2.5 million.
“We see the merger accelerating the implementation of Fellow Finance’s strategy and increasing the company’s shareholder value. Fellow Bank has excellent opportunities to grow quickly and profitably,” says Robin Lindahl, CEO of Taaleri.
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The implementation of the arrangement requires the approval of both companies’ extraordinary general meeting and several authority authorisations and approvals. The arrangement is intended to be carried out in full during the first half of 2022.
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