Private-equity firm Altor has sold 26 million shares in Finnish financial services group Mandatum for approximately 137 million euros, according to a regulatory filing.
The transaction, conducted on Tuesday by Altor Invest 8 AS, was priced at 5.25 euros per share.
Altor Invest 8 AS is an entity associated with Mandatum board member Herman Korsgaard, the filing stated.
The sale reduces the holding of Altor Fund Manager AB, which controls the selling entity, to 11.41% from a previously reported 16.59%, a separate flagging notification showed.
The divestment follows Mandatum's recent announcement of new financial targets for 2025-2028, which focus on accelerating capital-light growth and profitability.
As part of its new strategy, Mandatum is targeting a return on equity above 20% and aims for cumulative shareholder payouts exceeding 1 billion euros over the period.
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