Danish lender Danske Bank’s pension subsidiary Danica has sold the Swedish part of its business to a private equity consortium for around 2.6 billion Swedish crowns ($288 million).
The consortium is led by Acathia, a German private equity fund, and Nordic private equity fund Polaris. Institutional backers Sampension and Unigestion are also part of the consortium.
Approximately $103.5 million is a cash payment and the rest is in the form of a debt instrument from the seller.
Danske Bank said that the divestment does not affect its growth strategy in the Nordic markets.