Carnegie acquires Max Matthiessen

Carnegie acquires Max Matthiessen, Sweden’s leading independent advisor in pension insurance. Carnegie and Max Matthiessen have had an exclusive co-operation agreement since 2004.

The acquisition is to be financed through a new issue maximised to 6,071,427 shares in Carnegie, equating to SEK 856 million.

Following the announcement of the acquisition of Max Matthiessen, Carnegie has today presented its preliminary results and dividend proposal for the full year 2006 in a separate press release.

Carnegie and Max Matthiessen intend to launch jointly a unique offering made possible by the combined expertise and market positions of Carnegie and Max Matthiessen. Carnegie contributes its cutting-edge expertise in financial advice and Max Matthiessen its leading expertise and market position in pension advisory services.

Carnegie’s profit before tax pro forma 2006 increases by SEK 91 million. Income synergies are expected to add another SEK 80 million to profit before tax from 2009.

The effect on earnings per share is neutral in 2007 and 2008, and positive from 2009 (based on consensus estimates for Carnegie).

Carnegie’s Board of Directors will propose applicable resolutions to an EGM to be held on 13 February, 2007.

Carnegie’s CEO Stig Vilhelmson and Max Matthiessen’s CEO Christoffer Folkebo will present the transaction in a teleconference today at 10.00 AM (CET).