Vinge has advised Morrow Bank AB (publ) in conjunction with the acquisition of all shares in MedMera Bank AB from Kooperativa Förbundet for a total consideration of SEK 1,960 million. The transaction positions Morrow Bank as a leading Nordic platform in consumer finance with combined gross loans of SEK 28.2 billion.
Morrow Bank is a Nordic niche bank listed on Nasdaq Stockholm that offers digital and flexible financing solutions to private individuals in Norway, Sweden and Finland. MedMera Bank is a digital bank that has been offering banking services in savings and loans since 2007, with approximately 135,000 customers and a historically strong connection to the Coop sphere. The transaction establishes a long-term partnership with Coop and its over 4 million members, with Kooperativa Förbundet remaining one of the major shareholders in the merged bank.
Vinge’s team primarily consisted of Samra Tesser, Mana Sohrabi and Viktor Ejlertsson (M&A), Emma Stuart-Beck, Elias Bohlin and Rebecka Björnestedt (Financial Services), Rikard Lindahl, Carl Lexenberg and Hilda Andreasson (Capital Markets and Public M&A), Mario Saad, Therese Baltzarsson, Elis Allmark, Siri Blomberg and Katja Häglund (Commercial Agreements & IT), Sam Seddigh and Louisa Fagarsan (Employment Law), Axel Lennartsson (IP), Sebastian Örndahl and David Olander (EU, Competition & Regulatory) and Julia Ulander Kull (Transaction Support Co-ordinator).
The transaction is subject to the customary regulatory approvals.
For further details regarding the transaction, please refer to Morrow Bank’s press release.
