Banque Invik is integrated into Catella and renamed Catella Bank

Catella is discontinuing the sale of Banque Invik and changing the name of the
bank to Catella Bank. In connection with the change of name, Catella’s asset
management operations will be organised within Catella Bank, with the aim of
strengthening Catella’s service and product offering within asset management.
The bank’s card business and lending operations will also be developed.
‟We have had, and still have, several buyers for the bank at a price level we
desire, but we see that – in the current financial climate – the supervisory
authority in Luxembourg has difficulty in granting an acquisition permit to new
owners. In addition, continuation of the sales process would be detrimental for
the bank’s business. At the same time, the prevailing situation on the financial
markets creates new opportunities for conducting banking business, which has
caused us to change our position. All factors considered, we believe that the
greatest shareholder value lies in making the bank a part of Catella and
developing its operations,” says Johan Ericsson, Managing Director Catella AB.
Catella’s asset management operations will be organised within Catella Bank. In
an initial step, Catella’s Swedish subsidiary Catella Förmögenhetsförvaltning
will be transferred and coordinated with Banque Invik’s private banking. For
Catella’s clients, this will mean access to a stronger and more competitive
offering with both deposit and borrowing possibilities. At the same time,
administrative coordination of the operations will be facilitated.
In addition, Catella will strengthen the bank’s card business and develop a
specialised lending business in cooperation with Catella’s Corporate Finance
operations. This will create possibilities, via the bank, to offer financing
solutions to, e.g. Catella’s clients within transaction advisory services.
‟This is a positive development for Catella and our clients. We will be able to
broaden and deepen our offering within both of our lines of business. Lending
will be an important issue going forward. There is place on the loan market for
a company such as Catella and we regard this as another step in the development
of our financing services," says Johan Ericsson.
The restructuring will result in organisational and managerial changes. Banque
Invik’s current chairman, Fredrik Sauter, will become the new managing director,
while Stefan Carlsson, current board member of Catella AB, will be appointed
Chairman of the Board. In connection with the restructuring, in 2012 it will be
necessary to allocate provisions of approximately SEK 25 million, relating
mainly to premises costs in Luxembourg. In addition, restructuring costs during
the second quarter of 2012 are estimated to amount to approximately SEK 10
million.
Since no sale of Banque Invik will be carried out, the issue of a dividend
linked to a sale does not arise.
For more information, please contact:
Johan Ericsson
Chief Executive Officer, Catella
+46 8 463 33 10
Press contact:
Viktoria Ejenäs
Communications Officer, Catella
+46 8 463 33 34, +46 72 726 33 34
About Catella: Catella offers specialised financial services and products within
selected market segments. Catella has 450 employees in 13 European countries
within two operating segments; Corporate Finance and Asset Management. Catella
is listed on Nasdaq OMX, First North Premier and the share is traded under the
abbreviations CAT A and CAT B. Remium AB is Catella’s Certified Adviser, 46 8
454 32 00. Read more about Catella at www.catella.com.