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Vinge advises Santander Consumer Finance in connection with the divestment of its Swedish and Norwegian Credit Card and Sales Financing business

September 19, 2024 M&A Banking and Finance Data protection and processing of personal data IT, Telecommunications and Outsourcing Commercial Agreements Intellectual Property Carve-Outs

Vinge has advised Santander Consumer Bank AS in connection with the sale of its Swedish and Norwegian credit card business as well as the sales financing business that Santander currently operates in partnership with Elkjøp in Norway and Elgiganten in Sweden to Avida Finans AB (publ).

The business includes approximately 450 000 private customers with a total outstanding performing loan volume of approximately 4 billion SEK. The transaction is expected to close on 31 December 2024 and is still subject to applicable regulatory approvals.

Vinge's consisted of Christina Kokko, Matthias Pannier, Manon de Cooman, Isabelle Wållgren, Erik Kochbati (M&A), Eva Fredrikson, Jolene Reimerson, Mathilda Persson, Elis Allmark, Nicklas Thorgerzon (Commercial Agreements, IT and GDPR), Viveka Classon, Caroline Krassén, Sara Hedgren (Financial Services), Malin Malm Waerme (IP), Albert Wållgren (Banking and Finance), Victor Ericsson (Tax), Sam Seddigh, Emil Lindwall, Jonatan Stentorp (Employment) samt Carl Bruneheim och Cecilia Loctander (Transaction Support).

Read Avida’s press release here.

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