STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Swedbank AB (STO:SWEDA) (OSE: SWED) (LSE:SWK):
The Swedish Financial Supervisory Authority today approved Swedbank’s acquisition of Sparbanken Öresund and the creation of Sparbanken Skåne*. All permissions have now been granted and the integration process will start.
As announced in February 2014, Swedbank acquired all outstanding shares in Sparbanken Öresund. As part of the acquisition Swedbank will sell Sparbanken Öresund’s business activities in Eslöv, Kävlinge, Lund and Staffanstorp to Sparbanken Skåne. The acquisition has already been approved by the Swedish Competition Authority and by the Board of Directors of Sparbanksstiftelsen Öresund and Sparbanksstiftelsen Gripen.
Sparbanken Skåne will be owned by Sparbanksstiftelsen Färs & Frosta, Sparbanksstiftelsen 1826 and Sparbanksstiftelsen Öresund with 26 per cent each and by Swedbank owning 22 per cent.
An update over the financial impact for Swedbank following the acquisition will be provided as soon as the integration work has advanced.
* Proposed name.
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