The Swedish Financial Supervisory Authority has approved TF Bank’s transfer of a majority stake in the subsidiary Rediem Capital AB

On 4 October 2024, TF Bank AB (publ) (”TF Bank” or the ”Bank”) announced that the Bank entered into a share purchase agreement (the “Share Purchase Agreement”) with Alektum Holding AB (publ) (”Alektum Holding”) and Erik Selin Fastigheter Aktiebolag (”Erik Selin Fastigheter”) regarding a transfer of a majority stake in the wholly owned subsidiary Rediem Capital AB (”Rediem”). Today, on 10 December 2024, the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) has approved Alektum Holding and Erik Selin Fastigheter as the new owners of Rediem.

The Swedish Financial Supervisory Authority has on this day, 10 December 2024, approved Alektum Holding and Erik Selin Fastigheter (the ”Buyers”) as new owners of 80.1 per cent of the shares in Rediem (the ”Acquisition”). This means that the Buyers have obtained the regulatory approvals required for the completion of the Acquisition and that the aforementioned condition for completion of the closing under the Share Purchase Agreement has been fulfilled.

Note that completion of the Acquisition remains conditional upon the written consent of all of Alektum Group AB’s lenders under its revolving credit facility. Closing under the Share Purchase Agreement will only occur if and when this condition has been satisfied, or waived by both the Buyers and TF Bank.

Advisors
Lenner & Partners Corporate Finance AB has acted as financial advisor and Gernandt & Danielsson Advokatbyrå KB has acted as legal advisor.

For further information, please contact:
Mikael Meomuttel, CFO and Head of Investor Relations +46 (0) 70 626 95 33

This is information which TF Bank AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was provided for publication, through the agency of the contact person set out above, on 10 December 2024 at 17.05 CEST.

TF Bank in brief
TF Bank was founded 1987 and is a digital bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Lending and/or deposit activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria, Spain, Ireland, the Netherlands and Italy through subsidiary, branch or cross-border banking with the support of the Swedish banking license. The operations are divided into three segments: Credit Cards, Ecommerce Solutions and Consumer Lending. TF Bank is listed on Nasdaq Stockholm.