UC AB owners contributing to building new Nordic credit services player
The listed Finnish credit information company Asiakastieto Group Plc (“Asiakastieto”) has come to an agreement with all owners of UC AB (“UC”) to acquire UC for a consideration of approximately SEK 3.5bn. Swedbank owns 20 per cent of the shares in UC which today is treated as an associate company, and will receive 1,765,669 shares in Asiakastieto, equivalent to 7.4 per cent of the company post transaction completion, and approximately SEK 200m in cash. Swedbank intends to be a long term shareholder of the new group.
The transaction will result in a tax-free capital gain of approximately SEK 670m and is expected to close in the second quarter of 2018. (Based on closing share price of Asiakastieto and EUR/SEK fx rate as of 23 April 2018.)The transaction is subject to approval from the relevant competition authorities.
UC and Asiakastieto will together form one of the leading companies within business- and credit information in the Nordic region, focusing on digital services and data innovation. The new group is listed on NASDAQ Helsinki. Asiakastieto and UC already have similar business models, share common Nordic values and have solid histories. The combination is expected to strengthen market position, create better growth opportunities and enable quick deliveries of innovative and cost efficient services to customers in both the local market as well as the overall Nordic market.
For more information, please contact:
Gregori Karamouzis, Head of Investor Relations, Swedbank, phone: + 46 72 740 63 38
Josefine Uppling, Head of Press Office, Swedbank, phone: +46 76 114 54 21
Swedbank promotes a sound and sustainable financial situation for the many people, households and companies. Our vision is to contribute to development “Beyond Financial Growth”. As a leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial services and products. Swedbank has over 7 million retail customers and around 625 000 corporate customers and organisations with 218 branches in Sweden and 133 branches in the Baltic countries. The group is also present in other Nordic countries, the US and China. As of 6 February, 2018 the group had total assets of SEK 2 213 billion.
Read more at www.swedbank.com