Emma Stuart-Beck is a partner in Vinge’s Financial Services practice group. She specialises in financial regulatory issues and litigation relating to financial institutions such as banks, securities companies and fund managers as well as investment funds and securities law. Emma has a great deal of experience of, among other things, regulatory issues and establishment issues concerning financial services companies.
Vinge is advising funds managed by Corsair Capital LLC
Vinge has been engaged in regards of Axo Finans’ Swedish operations and worked with teams from Slaughter and May (UK) and BAHR (Norway).
Vinge’s team primarily consisted of partners Christina Kokko (M&A) and Emma Stuart-Beck (Financial Services) as well as associates Michaela Cronemyr, Marith Welin-Berger, Hannes Pettersson (M&A), Caroline Krassén and Anton Sjökvist (Financial Services).
Vinge advises Borgo in connection with the formation of a new mortgage company
In connection with the creation of the new residential mortgage platform, the majority of the shares in Borgo were acquired by Ålandsbanken, Ica Banken, Ikano Bank and Söderberg & Partners. Borgo’s management will assume the operational responsibility for the co‑ordination and establishment of the new mortgage company.
Vinge’s team primarily consisted of Johan Larsson, Mattias Schömer, Emma-Stuart Beck and Malin Haag.
Lendify has secured new financing of up to SEK 1,500,000,000 from, amongst others, Insight Investment
The transaction is one of the first in Sweden to be executed and reported under the new EU securitisation regulation (Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017) and to be subject to the new reporting requirements thereunder.
Lendify has, with Vinge’s assistance, secured financing of approximately SEK 2,800,000,000 during the spring of 2019, primarily by completion of the above mentioned transaction, by completion of the transaction with a large Swedish institution previously announced in February and by establishing a credit facility with Nordea.
Vinge’s team mainly consisted of partner Albert Wållgren, associates Lionardo Ojeda and Axel Jansson (Banking and Finance) and partner Emma Stuart Beck and associate Caroline Krassén (Financial Services).
Allfunds Bank to acquire Nordic Fund Market
Allfunds is the leading institutional fund and wealthtech platform in Europe with more than €370 billion of AuA. NFM is an electronic mutual fund service that enables straight through processing of orders and settlements. The service enables the fund distributors to access a broad choice of mutual funds through one single interface. There are presently around 200 connected fund companies with more than 5,000 mutual funds available on the Nasdaq platform. Completion of the transaction is subject to customary conditions.
Vinge’s team consisted of, among others, Jonas Bergström and Carl Sander (M&A), Emma Stuart-Beck, Henrik Schön and Mikaela Lang (Financial Regulatory), Ulf Nilsson and Victor Ericsson (Tax), and Nicklas Thorgerzon (TSA/CA).
Capital procurement by Bynk
The current principal owners Schibsted and LMK participated in the issue. Bynk offers loans up to SEK 300 000 which are arranged via the company’s website or mobile app.
Vinge’s team consisted of, among others, Johan Winnerblad, Johan Larsson, Emma Stuart‑Beck, Albert Wållgren and Rasmus Perdahl.
Vinge advised Lendify in connection with new financing and redemption of bonds
In connection with the new financing, Lendify’s two wholly owned subsidiaries, Lendify Sweden 1 AB and Lendify Sweden 2 AB, redeemed and de-listed their outstanding bonds from the Debt Securities list at the Nordic Derivatives Exchange.
Together with the management of the company, the institutional investor, the arranger and their legal advisors, Vinge has acted for Lendify in the structuring, documenting and execution of the transaction.
Vinge’s team mainly consisted of partner Albert Wållgren, associates Sebastian Frisk, Lionardo Ojeda and Axel Jansson (Banking and Finance) and partner Emma Stuart-Beck and associates Malin Haag and Caroline Krassén (Financial Services).
Vinge advises KKR on its significant investment in Söderberg & Partners
The transaction is subject to customary conditions precedent including regulatory approvals, and is expected to be completed during the second quarter of 2019.
Söderberg & Partners is a leading non-bank provider of wealth management and corporate pension and insurance services in the Nordic region and the Netherlands. KKR will continue to support and assist Söderberg & Partners on its strategy of rolling out its successful platform across the Nordic region and internationally, developing its product portfolio and services proposition, and enhancing its capabilities across investment management and research.
Vinge’s team consisted of, among others, Christina Kokko, Johan Larsson, Samra Baytar, Desirée Sjöblom, Elsie Nassar and Hanna Risberg (Corporate and M&A), Emma Stuart-Beck, Caroline Krassén, Malin Haag, Henrik Schön, Mikaela Lang and Julia Hirschberg (Regulatory and Financial Services) Viveka Classon, Paulina Malmberg (Insurance), Isabell Nielsen (Commercial Agreements), Lisa Ullman (Employment), Nicklas Thorgerzon (IT), Vilhelm Rondahl and Josefine Lanker (Banking and Financing), Agnes Perbo and Karolina Cohrs (Real Estate/Lease Agreements), Sofia Bergenstråhle (IP) and Viktoria Owetz (VDR assistant).
Vinge advises Hellman & Friedman in connection with the acquisition of Nets A/S and its Swedish subsidiary DIBS Payment Services AB
The takeover offer for Nets A/S is Europe’s largest for several years and amounts to DKK 33.1 billion. The final approval from the shareholders of Nets A/S shows that the takeover offer has been accepted by owners holding approximately 94 per cent of the share capital and the votes in Nets A/S.
The Danish company Nets A/S is a world leading supplier of digital payment services and is listed on the Copenhagen Stock Exchange. Nets A/S is also indirectly owned by the Swedish e money institute DIBS Payment Services AB, and thus the acquisition and the change of ownership is conditional upon prior approval of the Swedish Financial Supervisory Authority. The Swedish Financial Supervisory Authority has recently provided such approval in respect of the transaction and approvals have already been received from the Danish, Norwegian and Finnish competent authorities.
Vinge’s team consisted of Emma Stuart Beck (responsible partner), partner Fredrik Wilkens, associates Caroline Krassén, Henrik Schön, Malin Haag, Lave Nilsson and Carolina Sandell. Partner Louise Brorsson Salomon and associate Linn Adelwald advised on financing issues.
Vinge has advised Lendify in connection with a Swedish securitisation
The bonds have a tenor of three years and an annual interest rate of three-months Stibor + 5 %. The bonds are intended to be listed on the regulated market NDX, operated by Nordic Growth Market AB.
The bonds are backed by a portfolio of promissory notes issued by consumers in Sweden in favour of Lendify. The payment of interest and repayment of principal on the bonds are based on the cashflow from the portfolio. The entire documentation is governed by Swedish law and the collateral is held by Intertrust (Sweden) AB, who is also acting as agent for the bondholders.
Together with the management of the company, Carnegie Investment Bank AB (publ) as arranger and issuing agent and its legal advisors, Vinge acted for Lendify in the structuring and documentation of the transaction. Vinge’s team consisted of Jonas Johansson, Emma Stuart-Beck, Albert Wållgren, Louise Nordkvist and André Isacson.
Vinge has advised KCG in connection with the acquisition of Neonet
KCG is a leading independent securities firm offering investors a range of services designed to address trading needs across asset classes, product types and time zones. The acquisition is a strategic supplement to KCG’s business concept and will strengthen KCG’s reach in continental Europe and will enable both KCG’s and Neonet’s clients to access a more complete range of international execution services and capabilities.
The acquisition was granted the relevant approvals from the Swedish Financial Supervisory Authority on 6 September and was completed on 14 September 2016.
Vinge’s team consisted of among others partners Daniel Rosvall (M&A) and Emma Stuart-Beck (Financial Services) as well as associates Samra Baytar (M&A), Caroline Krassén and Henrik Schön (Financial Services).
Vinge advises Orkla ASA on the divestment (indirectly) of its shares in Enter Fonder to Pareto AS. The transaction makes Pareto the new majority shareholder of Enter. The transaction is subject to relevant approvals from the Swedish Financial Supervisory Authority (Finansinspektionen).
Vinge’s team consists of partner in charge Peter Sundgren (M&A), partner Emma Stuart-Beck (financial regulatory), partner Odile Fallenius and counsel Maria Schultzberg (tax) and associates Oscar Rydén and Louise Nordkvist (M&A).
Vinge is advising Santander Consumer Finance, S.A. (“Santander”) in connection with its acquisition of GE Money Bank AB (“GE Money Bank”) from GE Money Bank Holding AB. The transaction is conditional upon approval by the Swedish Financial Supervisory Authority and other relevant competition authorities. The purchase price amounts to approximately EUR 700 million following the execution of a pre-closing dividend from GE Money Bank to the Seller. Santander will also assume GE Money Bank’s intra-group loans on closing. Closing is expected to occur during the second half of 2014.
Pursuant to the terms of the transaction, the Banco Santander’s consumer finance unit will acquire GE Money Bank’s businesses in Sweden, Norway and Denmark. With a loan portfolio of EUR 2.35 billion, GE Money Bank occupies an attractive market position within consumer finance, such as direct loans and credit cards, whereas Santander is a leader in the region within auto financing with outstanding loans amounting to EUR 8.9 billion. Following the transaction, Santander’s Nordic consumer finance unit will have more than 1.2 million customers in the Nordic region.
Vinge’s team consisted of responsible partner Christina Kokko and partner Bo Adrianzon together with associates Jonas Johansson and Maria Dahlin. Partner Fredrik Wilkens and associates Emma Stuart-Beck, Louise Nordkvist and Helena Håkansson provided regulatory advice. Partners Eva Fredriksson and Karin Grauers and associates Anna Möller, Malin Malm and Mathilda Persson provided advice regarding IT, IP and transitional services. Partner Mikael Ståhl and associates Albert Wållgren and Mattias Sköld advised on financing issues. Associates Malin van den Tempel and Axel Hedberg advised on insurance law. Partner Fredrik Dahl and associate Sara Strandberg provided employment law advice. Partner Marcus Glader and associates Grant McKelvey and Isabelle Nilsson provided competition law advice.
Accura provided legal advice in relation to the business in Denmark and Wiersholm provided legal advice in relation to the business in Norway.
Vinge has advised Barclays Bank PLC in connection with its establishment in Sweden which included, among other things, extensive contacts with the Swedish Financial Supervisory Authority. Barclays Bank PLC is one of the world’s largest financial services providers and engages in personal banking, credit cards, corporate and investment banking, wealth and investment management. Barclays Bank PLC has an extensive international presence in Europe, the Americas, Africa and Asia and, as a result of its establishment in Sweden, Barclays intends to strengthen its presence in the Nordic region and thereby increase its service offering for existing and potential customers. Barclays Bank PLC’s extensive authorisations for its Swedish operations are set forth on the Swedish Financial Supervisory Authority’s website; www.fi.se.
Vinge’s advice pertained to, among other things, authorisation issues relating to financial services, passporting of existing authorisations within the EEA, anti-money laundering, consumer law, tax law and real estate law. The work was undertaken in consultation with Barclay’s corporate counsel teams in London and Frankfurt.
Vinge’s team consisted of responsible partner Fredrik Wilkens together with a team of financial services specialists including Emma Stuart-Beck, Malin Sund, Helena Håkansson and Sabina Börjesson. In addition, Maria Schultzberg and Ulf Nilsson advised on tax law, Fredrik Gustafsson and Åsa Gotthardsson advised on employment law issues and Martin Folke advised on real estate issues.
Vinge acted as Swedish counsel for the lenders UBS Limited, Deutsche Bank AG, Danske Bank A/S and DNB Bank ASA in connection with the bathroom manufacturer Sanitec’s refinancing through the issue of corporate bonds to a value of EUR 250 million with a maturity date in 2018 and a new revolving credit facility amounting to EUR 50 million. Sanitec will use the funds to repay old loans and provide dividends to the company’s shareholders.
Vinge’s team consisted of responsible partner Fredrik Wilkens and associates Emma Stuart-Beck, Malin Sund, Helena Håkansson and Sabina Börjesson and associate Martin Folke in relation to real estate issues.
Vinge has advised Ikano Bank AB (publ) in connection with its acquisition of credit operations from Ikano Financial Services Ltd. The purchase included a credit and loan portfolio of approximately GBP 250 million. The acquisition signals Ikano Bank’s entry into the UK market. The Swedish Financial Supervisory Authority has consented to the acquisition.
Vinge’s team consisted of responsible partner Fredrik Wilkens together with associates Emma Stuart-Beck and Ulrica Åkesson.