OP-Pohjola Group said it planned to buy all shares in Pohjola Bank it does not already own for around 3.4 billion euros, offering an 18 percent premium for the listed bank's shareholders.
OP-Pohjola said it wanted to centralise its decision-making to respond to tighter banking regulations. The group, including its co-operative banks, owns around 55 percent of shares and 76 percent of voting rights in Pohjola Bank.
OP-Pohjola Group is Finland's largest financial services group.
