TF Bank has sold an 80.1% stake in its subsidiary Rediem Capital to Alektum Holding and Erik Selin Fastigheter for approximately SEK 472 million, enabling strategic focus on core banking operations and enhancing Rediem's potential in the non-performing loans market.

Target Information

TF Bank AB (publ) has entered into a share purchase agreement to transfer a majority stake in its subsidiary, Rediem Capital AB ("Rediem"), to Alektum Holding AB (publ) and Erik Selin Fastigheter Aktiebolag. Rediem operates as a credit market company, specifically focusing on acquiring non-performing loan portfolios ("NPL portfolios"). The transaction involves the transfer of 80.1% of Rediem's shares, valued at approximately SEK 472 million, contingent upon regulatory approvals and specific financial conditions.

The formation of Rediem as a credit market company occurred on September 1, 2024, following TF Bank's restructuring. This move aims to enable Rediem to better manage NPL portfolios, which currently hold a book value of approximately SEK 1,300 million. By January 1, 2025, Rediem aims to obtain specialized debt restructured ("SDR") status, which will enhance its capital adequacy advantages, thus facilitating increased lending capabilities.

Industry Overview

In recent years, the credit market landscape in Sweden has been evolving, particularly regarding the handling of non-performing loans. Regulatory changes have driven banks and financial institut