Catella divests Card Issuing operations in Luxembourg to Advanzia Bank and completes strategic review
Catella Bank S.A, a fully owned subsidiary of Catella AB (publ), has entered an agreement to divest its Card Issuing operations in Luxembourg to Advanzia Bank S.A. as part of the previously announced strategic review. The fixed consideration amounts to approx. SEK 120 Million with an additional earn-out structure with a maximum potential of approx. SEK 240 Million.Divesting the Card Issuing operations in Luxembourg is an important step for Catella in order to exit the consolidated situation due to the extensive regulatory framework and inefficient capital-structure it entails. In the