Brief: SEB To Acquire Lufthansa Airplus Servicekarten GmbH

SEB SA

21/06/2023 06:17

June 21 (Reuters) - Skandinaviska Enskilda Banken AB
 SEBa.ST :
    * SEB TO ACQUIRE AIRPLUS TO CREATE A LEADING EUROPEAN
PROVIDER IN
CORPORATE PAYMENTS
    * SEB KORT BANK AB, WHOLLY OWNED SUBSIDIARY OF SEB GROUP,
HAS
ENTERED INTO AN AGREEMENT WITH LUFTHANSA GROUP TO ACQUIRE ALL
SHARES IN LUFTHANSA AIRPLUS SERVICEKARTEN GMBH
    * CASH PURCHASE PRICE IS EUR 450 MILLION
    * CASH PURCHASE PRICE FOR ACQUISITION IS EUR 450 MILLION AND
IT IS
EXPECTED TO AFFECT SEB'S CET1 RATIO NEGATIVELY BY APPROXIMATELY
35-40 BASIS POINTS AT CLOSING
    * INCOME, FUNDING AND COST SYNERGIES ARE EXPECTED TO ENHANCE
RETURN ON EQUITY IN MEDIUM TERM FOR SEB GROUP
    * TRANSACTION IS EXPECTED TO BE EPS ACCRETIVE YEAR 1
EXCLUDING
IMPLEMENTATION COSTS AND EPS ACCRETIVE YEAR 2 INCLUDING
IMPLEMENTATION COSTS
    * CLOSING OF TRANSACTION IS CURRENTLY EXPECTED TO OCCUR
DURING
FIRST HALF OF 2024

Source text for Eikon:  ID:nWkr1DFs8h 
Further company coverage:  SEBa.ST 

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