Skandia, the scandal-stricken Swedish financial services group, and its wholly-owned life business Skandia Liv, have raised Skr7.06bn (€775m) by selling their stakes in IF, a Nordic non-life insurer, to Sampo, a Finnish bankassurance group.

The sales form two parts of three deals which will raise Sampo's stake in IF from 38% to 90%.

Skandia raises €775m from sale of IF stakes

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