February 17, 2014 - Assignment

Sparbanksstiftelsen Öresund participates in formation of Sweden’s largest savings bank

Sparbanksstiftelsen Öresund has participated in the formation of Sweden’s largest savings bank, with the proposed name Sparbanken Skåne. The bank is being created through the merger of parts of Sparbanken Öresund’s operations and Färs & Frosta Sparbank and Sparbanken 1826.

Upon completion of the transaction, Sparbanken Skåne will be owned by Sparbanksstiftelsen Öresund, Sparbanksstiftelsen Färs & Frosta and Savings Bank Sparbanksstiftelsen 1826 with 26 percent each, and Swedbank with 22 percent. The transactions are conditional upon, inter alia, customary regulatory approvals as well as approval by the boards of Sparbanksstiftelsen Öresund and Sparbanksstiftelsen Gripen, respectively.

Sparbanksstiftelsen Öresund was advised by Mannheimer Swartling in the transactions. The firm's team was led by Lucas Jonsson and Zoran Stambolovski, mainly assisted by Pontus Malmunger, Martin Sjölund and Isabel Lindeberg. Johan Carle advised on competition issues.