|
|
Article: Handelsbanken To Acquire SPP Liv.
- Article from:
- Business Wire
- Article date:
- December 20, 2000
CopyrightCOPYRIGHT 2000 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
STOCKHOLM, Sweden--(BUSINESS WIRE)--Dec. 20, 2000
Handelsbanken has entered into an agreement with the mutual insurance company SPP to acquire SPP Livforsakring AB, SPP Fonder AB and the SPP brand.
The price is set at SEK 7.1 billion.
Background
Through the acquisition, Handelsbanken will become the market leader in the occupational pension area. The Bank already enjoys a very strong position in the private insurance area through Handelsbanken Liv. Handelsbanken is thus set to become the dominant player, and the largest commercial bank, in the expanding Swedish pensions market.
After the acquisition, ...