HQ AB sells its subsidiary HQ Bank to Carnegie for SEK 268 million, ensuring the continuity of operations and client obligations amidst regulatory challenges.
Target Information
HQ AB ("HQ") has divested its subsidiary HQ Bank AB ("HQ Bank") to the Carnegie group, which includes the option for Carnegie to acquire HQ Fonder Sverige AB. The sale has been completed for a total sum of SEK 268 million.
This strategic divestiture allows HQ to meet its obligations related to the personnel convertible programme, ensuring financial stability post-transaction. Importantly, this agreement also guarantees that Carnegie will assume all of HQ Bank's client obligations, providing reassurance to stakeholders.
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Industry Overview in Sweden
The banking and financial services industry in Sweden is characterized by a robust regulatory framework enforced by the Swedish Financial Supervisory Authority (Finansinspektionen). Recentl
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invested in
HQ Bank
in 2010
in a Buyout deal
Disclosed details
Transaction Size: $39M