SEB has reached an agreement with Volkswagen Financial Services to
transfer its car financing operations in Norway.
The operations, conducted within Møller BilFinans, provide car
financing to end customers through co-operation agreements with car
dealers and are owned jointly by SEB and MøllerGruppen. The business
has 31 employees.
The exit decision is in line with SEB's strategy of focusing its
activities on core areas.
The transaction is expected to be completed in the fourth quarter of
2009 and is not expected to have any material impact on SEB's
operating results.
SEB is a North European financial group serving some 400,000
corporate customers and institutions and five million private
individuals. SEB offers universal banking services in Sweden, Germany
and the Baltic countries - Estonia, Latvia and Lithuania. It also has
local presence in the other Nordic countries, Ukraine and Russia and
a global presence through its international network in major
financial centres. On 31 March 2009, the Group's total assets
amounted to SEK 2,460bn (~EUR 225bn) while its assets under
management totalled SEK 1,187bn (~EUR 108bn).The Group has about
21,000 employees. Read more about SEB at www.sebgroup.com
_____________________________________________
For further information, please contact:
Karin Åkvist, Head of Leasing & Factoring,+46 8 763 9770, + 46 70 60
88 602
Press contact: Elisabeth Lennhede, +46 70 763 99 16
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
