Kromann Reumert assists Danica Pension in its acquisition of SEB Pension in Denmark
On 14 December 2017, Danica Pension entered into an agreement with SEB for acquisition of SEB Pension in Denmark at a price of DKK 5 billion.
With the acquisition, Danica Pension takes over approx. DKK 97 billion in AuM (balance sheet total, 2016 figures) and welcome approx. 200,000 new pension customers and approx. 300 new employees.
Danica Pension is part of the Danske Bank group. After the transaction, Danica Pension’s total annual premium payments in Denmark, Norway and Sweden will amount to approx. DKK 43 billion. In Denmark, premiums will amount to DKK 30.8 billion, and Danica Pension will have approx. DKK 547 billion in AuM (balance sheet total, 2016 figures) and approx. 800,000 customers.
The acquisition is subject to approval by the relevant authorities, which is expected during the first half of 2018.
Kromann Reumert assisted Danica Pension in the process with Jens Steen Jensen as the partner responsible for the matter and Mads Reinholdt Sørensen as lead coordinating attorney.
Read more about the sale:
SEB sells SEB Pension to Danica (in Danish)
SEB divests SEB Pension in Denmark
Danica Pension acquires SEB Pension in Denmark (in Danish)