Thu, 26 Nov 1998: Swedes poised to become Baltic banking leaders…



18 with an announcement that SEB would acquire 15 million shares of Uhispank through a share issue at 40 kroons ($2.97) a share. It also purchased 6 million existing Uhispank shares.This is the second time the Swedish bank tried to enter the Estonian banking market. This summer, it competed with Swedbank for Hansapank, eventually buying 18.6 percent of Hansapank's shares. In September, it sold these shares to Swedbank for 275 million kroons.But their interest in the Baltic market remained, and, according to SEB President Lars Thunell, purchasing Uhispank fits into SEB's long term plan for the Baltic region. "The strategic partnership with Uhispank is in line with our strategy to develop SEB into the leading financial services institution in... Read the rest of this entry »

Comments are closed.