Catella completes WM divestment in Luxembourg

Jonathan Boyd
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Catella completes WM divestment in Luxembourg

Catella Bank S.A., the wholly owned subsidiary of Nasdaq Stockholm listed Catella AB, has completged the divestment of its Wealth Management operations in Luxembourg to VP Bank (Luxembourg) SA, for an amount of SEK95m (€9m). The sale price was dependent on assets under management at the transaction data, which means the price was lower than the SEK110m (€10.5m) previously indicated. Catella said AUM fell mainly because of weak market development. The divestment follows a strategic revie...

Jonathan Boyd
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Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.