SEB Kort Bank AB ("SEB Kort"), a wholly-owned subsidiary within the SEB Group, has entered into an agreement with Lufthansa Group to acquire all shares in Lufthansa AirPlus Servicekarten GmbH ("AirPlus").
Together, SEB Kort and AirPlus will become a leading European player in the corporate payments sector. For a cash consideration of EUR 450 million, the transaction will provide SEB Kort with additional scale, a strong position for further growth in Europe, and a modern IT platform. In addition, the transaction is expected to result in synergies and also complement SEB's broader ambitions in the corporate business in the DACH region (Germany, Austria, and Switzerland) and northern Europe.
In connection with the transaction, Vinge has acted as local counsel for SEB Kort and assisted with Swedish corporate and regulatory matters.
The transaction is, inter alia, subject to approvals from governmental authorities.
Vinge's team consisted of Daniel Rosvall and Viktor Lennartsson (M&A) as well as Caroline Krassén (Financial Services).