Avida Finans acquires credit card and sales finance business from Santander
Avida Finans AB (publ) (“Avida Finans”) has entered into an agreement to acquire the performing Swedish and Norwegian credit card business of Santander Consumer Bank AS (“Santander”), as well as the sales financing business that Santander currently operates in partnership with Elkjøp in Norway and Elgiganten in Sweden.
The acquired business includes approximately 450 000 private customers with a total outstanding performing loan volume of currently about 4 billion SEK. The transaction is expected to close on 31 December 2024.
Mannheimer Swartling advised Avida Finans in the transaction.
