Divestments & Acquisitions 2007
Divestments
February
Nordea sells its 39% stake in the Swedish card processing company CEKAB. Nordea owned CEKAB together with Svenska Handelsbanken (37%), Swedbank (21%) and Danske Bank (3%). All banks sold their stakes at the same time, giving the buyer, the Norweigan company EDB Business Partner, 100% ownership.
Acquisitions
November
Nordea Bank Norge ASA strengthens its presence in the Norweigan estate agency business by purchasing the estate agency, PRIVATmegleren. Nordea became the majority owner (67%), but the company’s entrepreneurs will retain a substantial interest (33%) and continue to be responsible for the further development of the business.
September
In Sweden, Nordea signs an agreement with Svensk Kassaservice to take over some 70 branches, which increases Nordea’s Swedish branch network with one third.
March
Nordea’s acquisition of a 75.01% stake in Orgresbank completed. In November 2006 Nordea announced an agreement to purchase a majority stake in the Russian bank JSB Orgresbank. The remaining minority stake representing 24.99% of the shares is split between the current management shareholders of Orgresbank and the European Bank for Reconstruction and Development.
