Oma Säästöpankki Oyj (HLSE:OMASP), S-Pankki Oyj and Fennia Life Insurance Company Ltd. signed an agreement to acquire SME enterprise operations of Svenska Handelsbanken AB on May 31, 2023. As part of the purchase of the SME enterprise operations, entrepreneurs? banking services will also be transferred to OmaSp, excluding asset management and investment services.

The purchase price will be paid in cash. The purchase price is the net value of the balance sheet items to be transferred at closing plus ?15 million. Around 40 people from Handelsbanken will be transferred to OmaSp as old employees.

The transaction is subject to regulatory approval. The transaction is expected to be finalised during second half of 2024. As of July 24, 2023, Finnish Competition and Consumer Authority approved this transaction.

Marcus Möller, Simo Autio, Samu Lassila and Antti Lehtimaja of Antti Lehtimaja acted as legal advisor to Fennia Life Insurance Company Ltd. Morgan Stanley AB acted s financial advisor for Svenska Handelsbanken AB. Handelsbanken Capital Markets acted as financial advisor to Svenska Handelsbanken AB (publ) (OM:SHB A). Anders Carlberg, Kristian Karlsson, Ilkka Leppihalme, Jukka Lång, Anna Haapanen, Petteri Uoti, Suvi Knaapila, Kai Holkeri of Dittmar & Indrenius acted as legal advisor to Handelsbanken.

Pekka Hiltunen, Mika Sihvola, Mikko Hirvonen and Robin Hirvijärvi of Danske Bank A/S, Finland Branch acted as financial adviser to S-Pankki Oyj.