SEB exits its Norwegian car financing operations>

SEB exits its Norwegian car financing operations

(Thomson Reuters ONE) - SEB has reached an agreement with Volkswagen Financial Services totransfer its car financing operations in Norway.The operations, conducted within Møller BilFinans, provide carfinancing to end customers through co-operation agreements with cardealers and are owned jointly by SEB and MøllerGruppen. The businesshas 31 employees.The exit decision is in line with SEB's strategy of focusing itsactivities on core areas.The transaction is expected to be completed in the fourth quarter of2009 and is not expected to have any material impact on SEB'soperating results.SEB is a North European financial group serving some 400,000corporate customers and institutions and five million privateindividuals. SEB offers universal banking services in Sweden, Germanyand the Baltic countries - Estonia, Latvia and Lithuania. It also haslocal presence in the other Nordic countries, Ukraine and Russia anda global presence through its international network in majorfinancial centres. On 31 March 2009, the Group's total assetsamounted to SEK 2,460bn (~EUR 225bn) while its assets undermanagement totalled SEK 1,187bn (~EUR 108bn).The Group has about21,000 employees. Read more about SEB at www.sebgroup.com_____________________________________________For further information, please contact:Karin ÿkvist, Head of Leasing & Factoring,+46 8 763 9770, + 46 70 6088 602Press contact: Elisabeth Lennhede, +46 70 763 99 16http://hugin.info/1208/R/1327787/312896.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 08.07.2009 - 15:00 Uhr
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