Sweden’s Handelsbanken has agreed to sell parts of its Finnish operation to three local companies, the bank stated on Wednesday, May 31. The amount of the net asset value runs up to around 1.3 billion euros.
According to the statement, Handelsbanken will also receive a small premium of up to 8.5 million euros on top of the net asset value. The deal is expected to close in the second half of 2024.
Private customers, asset management and investment service operations were sold to S-Bank. Small and medium-sized operations were sold to Oma Savings Bank, while life insurance operations were sold to Fennia, Handelsbanken said.
Oma Savings Bank separately said the deal was “really positive” and would boost the company’s position in Finland.