On December 12, 2018, Catella Bank announced a strategic partnership with Söderberg & Partners.
Under the terms of the strategic partnership, Söderberg & Partners (“Söderberg”) and Catella Bank S.A.(“Catella”), a subsidiary of Catella AB (publ) (“Catella Group”), have entered into a joint venture under which Catella will divest of 51% of its Wealth Management operations in Sweden to Söderberg for approximately SEK 36 million. In connection with the transaction, Catella and Söderberg have also entered into a put and call option agreement in which Catella has a put option to sell its shares to Söderberg, and Söderberg has a call option to acquire Catella’s shares in 2024 at a price based on future profit. The transaction is expected to close during the first half of 2019.
Catella, a wholly owned subsidiary of Catella Group, is a Luxembourg-based bank that provides corporate banking, payment, card issuing and wealth management services. Catella Group is a property and financial advisory company based in Sweden that manages assets of approximately SEK 180 billion.
Söderberg is an advisory company based in Sweden that provides insurance and financial products and services including pension plans, fund investments and savings, advisory and asset management services.
To read the press release: please click here.