24 September 2017
Find out more

SEB offloads card acquiring biz to Nordic Capital

30 May 2014  |  5662 views  |  0 credit card

Swedish bank SEB has agreed to sell its Euroline card acquiring business to PE firm Nordic Capital for SKr2.2 billion (around £198 million).

Euroline, which employs around 50 people, provides acquiring services to SEB's corporate customers, handling more than 200 million transactions a year.

As part of the deal, SEB will hand over card acquiring work to Nordic Capital and also has an option to invest up to 25% in the new business.

Annika Falkengren, CEO, SEB, says: "In recent years we have been focusing the bank's activities in core areas and where we can create the greatest long-term value for our customers.

"Regulatory changes and rapid technological developments means that the card acquiring business requires both larger scale and heavy investment in technology going forward."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

SEB builds record-breaking coin mosaic

SEB builds record-breaking coin mosaic

20 June 2012  |  3850 views  |  0 comments
Orc Group files for delisting as shareholders accept Nordic Capital offer

Orc Group files for delisting as shareholders accept Nordic Capital offer

17 February 2012  |  4304 views  |  0 comments
SEB outsources Sepa direct debits processing to Equens

SEB outsources Sepa direct debits processing to Equens

19 February 2009  |  8789 views  |  0 comments
TietoEnator slumps as Nordic Capital sells stake

TietoEnator slumps as Nordic Capital sells stake

20 May 2008  |  5944 views  |  0 comments
SEB sells Norwegian merchant acquiring business to Nova

SEB sells Norwegian merchant acquiring business to Nova

19 August 2004  |  6201 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.sibos.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13386 views comments | 28 tweets | 44 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9740 views comments | 13 tweets | 28 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8591 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8365 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8076 views comments | 32 tweets | 45 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job