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Catella's banking subsidiary enters into strategic partnership with SA[pilcrow sign]derberg & Partners.

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NORDIC BUSINESS REPORT-December 13, 2018-Catella's banking subsidiary enters into strategic partnership with SA[pilcrow sign]derberg & Partners

(C)2018 M2 COMMUNICATIONS http://www.m2.com

Catella AB (STO:CATB), a company specialising in property investments, fund management and banking, announced on Wednesday that Catella Bank S.A, its subsidiary, has entered an agreement to divest 51% of the Wealth Management operations in Sweden to Soderberg & Partners, a leading advisor within insurance and financial products in Sweden and Scandinavia, for approximately SEK36m.

Reportedly, Catella's ownership in the joint venture structure is expected to generate positive cash flow, which is an important part of the value of the transaction.

Also, the parties will enter into a strategic partnership. Catella will continue to develop alternative investment products to this client segment for the entire wealth advisory industry.

According to the company, as a part of the strategic review of Catella's Banking operation, it had evaluated various options for the Swedish Wealth Management operation and found the optimal conditions, for customers and employees, in Soderberg & Partners, who is a partner and employer with a strong and long-term offering.

In addition, entering into a strategic partnership ensures that customers will be served by their trusted advisor on a competitive platform, as well as being an...

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