Kategori: Catella

Catella Bank S.A., a fully owned subsidiary of Catella AB (publ), has entered an asset transfer-agreement to divest its Wealth Management operations in Luxembourg to VP Bank (Luxembourg) SA as part of the previously announced strategic review, for approximately SEK 110 Million.
The Swedish Wealth Management division and the Card Issuing-operations is not part of this transaction and the strategic review is ongoing with regards to these two operations. As previously announced Catella aim to exit the consolidated situation due to the extensive regulatory framework and inefficient capital-structure it entails. Divesting the Wealth Management operations in Luxembourg is a step in that direction and an important part of this process has been to find a counterparty who can understand and meet our customers’ demands. Catella has evaluated various options and found the optimal conditions, for customers and employees, in VP Bank who is a partner and employer with a strong and long-term offering.

“VP Bank has the ambition and capacity to further develop the private banking offer to Catella’s wealth management-customers in Luxembourg. Catella and VP Bank will also enter a distribution partnership to develop and provide products for the Nordic and European markets. This provides a great opportunity for Catella to distribute alternative products through a large and credible partner. The transaction is also an important step towards a more efficient capital-structure and less extensive regulatory framework,” Knut Pedersen, CEO of Catella Group, comments.

“The transaction with Catella Bank S.A. underscores the growth ambitions of VP Bank Group and contributes significantly to the expansion of our activities in the Scandinavian market. Due to the international orientation, strong balance sheet and comparable ownership of VP Bank, we have ideal conditions to rapidly integrate the acquired customers and employees”, states Alfred W. Moeckli, CEO of VP Bank Group.

The balance sheet total of Catella Group will decrease by approximately SEK 2 Billion as both assets and liabilities will be transferred to VP Bank due to the transaction which is structured as an asset deal. The consideration is depending on certain conditions related to assets under management upon closing. The transaction is expected to be completed the first of February 2019.

About VP Bank
VP Bank Ltd was founded in 1956 and is one of the largest banks in Liechtenstein with 892 employees at mid-year 2018 (full-time equivalent 828). It currently has offices in Vaduz, Zurich, Luxembourg, Singapore, Hong Kong and Road Town on the British Virgin Islands. VP Bank Group offers bespoke asset management and investment consultancy for private individuals and intermediaries. Due to the open architecture, clients benefit from independent advice: The products and services of leading financial institutions as well as in-house investment solutions are included in client recommendations. VP Bank is listed on the Swiss stock exchange SIX, and has an ”A” rating from Standard & Poor’s. The bank has a sound balance sheet and capital base. Its anchor shareholders take a long-term view, guaranteeing continuity, independence as well as sustainability.

For more information, please contact: Press contact:

Knut Pedersen Jonas Burvall
Chief Executive Officer Head of Group Communications
+46 8 463 33 10 +46 8 463 33 05, +46 766 27 97 55
knut.pedersen@catella.se jonas.burvall@catella.se

This information is information that Catella AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.15 CET on 26th of October 2018.
Catella is a leading specialist in property investments, fund management and banking, with operations in 14 countries. The group has assets under management of approximately SEK 200 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.

The objective of Catella Hedgefond is to achieve stable returns at low risk, regardless of market conditions. The fund invests mainly in Nordic equities and bonds, as well as in derivatives. Sustainability is an integral part of the fund management and the fund applies negative screening for sustainability criteria and consequently avoids long positions in companies that produce tobacco, alcohol, commercial games for money, pornography, coal, or weapons. Derivatives are used in the management of the fund to protect its capital and increase return opportunities. The fund strives to achieve low correlation with performance in the equity, credit and bond markets and may thus both raise the expected return and lower the expected risk in a traditional equity and fixed income portfolio.

Saving up a buffer for unexpected costs is probably the most important saving of all. Once your buffer is in place you should create a good mix on a slightly longer investment horizon; the one for your longer-term goals and dreams.

Catella AB (publ) (”Catella”) announces the amendment of the terms and conditions (the ”Terms and Conditions”), originally dated 9 June 2017, for Catella’s senior unsecured bonds with a framework amount of up to SEK 750,000,000 and ISIN SE0009994718. The amendment became effective on 27 June 2018.
Catella and Intertrust (Sweden) AB (the ”Agent”) have entered into an amendment agreement whereby the ”make whole”-provision (previously set out in clause 9.3(a) of the Terms and Conditions) has been removed and relevant adjustments following such removal have been made. This means that Catella has renounced its right to redeem the bonds prior to the First Call Date. Catella and the Agent deem the amendments to not be detrimental to the interest of the bondholders and have therefore in accordance with clause 18(a)(i) of the Terms and Conditions agreed to the amendments.
The amended Terms and Conditions are available on Catella’s website (www.catella.com).

For more information, please contact:
Knut Pedersen
CEO and President
+46 8 463 33 10
knut.pedersen@catella.se

Marcus Holmstrand
CFO
+46 8-463 33 10
marcus.holmstrand@catella.se

This information is information that Catella AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 02:00 p.m. CET on 27 June 2018.
Catella is a leading specialist in property investments, fund management and banking, with operations in 14 countries. The group manages assets of approximately SEK 180 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com

Catella AB (publ) (”Catella”) has mandated ABG Sundal Collier AB and Nordea Bank AB (publ) as its financial advisors to investigate the possibility of a tap issue of up to SEK 250,000,000 under the framework of Catella’s existing up to SEK 750,000,000 senior unsecured bonds with ISIN SE0009994718 and maturity in June 2022. Subject to, inter alia, market conditions, a transaction may follow. Net proceeds from the transaction will be used for general corporate purposes and to fund announced acquisitions.
For more information, please contact:
Knut Pedersen Marcus Holmstrand
Chief Executive Officer Chief Financial Officer
+46 8 463 33 10 +46 8 463 33 10
knut.pedersen@catella.se marcus.holmstrand@catella.se

This information is information that Catella AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 11.40 CET on 13th of June 2018.

Catella is a leading specialist in property investments, fund management and banking, with operations in 14 European countries. The group has assets under management of approximately SEK 180 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more online at catella.com.