Nordea Bank AB is looking likely to win enough backing from shareholders to proceed with its proposed move to Helsinki from Stockholm, paving the way for the largest Nordic lender to join Europe’s banking union.
A number of key investors voiced their support for the plan on Monday, including Swedbank Robur, Alecta and Varma Mutual Pension Insurance Co. They joined other key investors among Nordea’s 20 largest shareholders who together control about 32 percent of the share capital. Nordea can also count on support from many of the foreign investors advised or represented by Institutional Shareholder Services Inc., which also backs the relocation.