Altor sells €137m stake after Mandatum strategy update

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.