KPMG provided operational and financial support to Handelsbanken Group in the divestment of certain Handelsbanken Finland operations to S-Pankki Oyj, Oma Säästöpankki Oyj and Henki-Fennia. The private customer, asset management and investment services operations will be sold to S-Pankki, who will also take over lease agreements for the majority of branch offices. The small and medium-sized enterprise operations will be sold to Oma Säästöpankki, while the life insurance operations will be sold to Henki-Fennia. The transaction is expected to be finalized during the second half of 2024.
The broad range of services provided by KPMG included operational and financial separation support and financial services expertise support. The transaction emphasizes KPMG’s ability to offer comprehensive sell-side support, assisting the seller throughout the divestment process, and reaching a successful outcome in a large and complex deal setting.