Catella divests Wealth Management operations in Luxembourg to VP Bank
Catella Bank S.A., a fully owned subsidiary of Catella AB (publ), has entered an asset transfer-agreement to divest its Wealth Management operations in Luxembourg to VP Bank (Luxembourg) SA as part of the previously announced strategic review, for approximately SEK 110 Million.The Swedish Wealth Management division and the Card Issuing-operations is not part of this transaction and the strategic review is ongoing with regards to these two operations. As previously announced Catella aim to exit the consolidated situation due to the extensive regulatory framework and inefficient capital-