01 Sep 2015 08:00

SEB completes sale of German real estate investment management business

SEB has completed the divestment of SEB Asset Management AG, including its main subsidiary SEB Investment GmbH, to Savills plc in accordance with the agreement announced on 19 March 2015. The consideration is up to EUR 21.5 million and paid in two installments. The sale encompasses assets under management of  around EUR 10 billion. The transaction is approximately neutral for SEB's profit and capital ratios before a goodwill allocation of SEK  187 million.

For further information, please contact
Viveka Hirdman-Ryrberg, Head of Corporate Communications
+46 8 763 8577, +46 70 550 3500
viveka.hirdman-ryrberg@seb.se
  
Jonas Söderberg, Head of Investor Relations
+46 8 763 8319, +46 73 521 0266
jonas.soderberg@seb.se

SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On June 30, 2015, the Group's total assets amounted to SEK 2,760 billion while its assets under management totalled SEK 1,780 billion. The Group has about 16,000 employees. Read more about SEB at www.sebgroup.com