Swedbank A

Legal Proceedings Report • Mar 12, 2015

Franchisees in Svensk Fastighetsförmedling AB acquire the company

Franchisees in Svensk Fastighetsförmedling AB acquire the company

Swedbank Franchise AB has today agreed with DNB Bank to unwind the acquisition

by Swedbank Franchise of Svensk Fastighetsförmedling AB. Most of the franchisees

in Svensk Fastighetsförmedling will at the same time acquire Svensk

Fastighetsförmedling and sign a cooperation agreement with Swedbank AB.

In December 2013, Swedbank Franchise acquired all shares in Svensk

Fastighetsförmedling from DNB Bank. The acquisition was prohibited by the

Stockholm District Court on 17 December, 2014. Swedbank Franchise appealed to

the Market Court which now, at the request of Swedbank Franchise and Svensk

Fastighetsförmedling, has dismissed the case since the acquisition is unwond.

Most of the franchisees in Svensk Fastighetsförmedling have through Mellersta

Förmedlingsbolaget AB acquired all the shares in Svensk Fastighetsförmedling

from DNB Bank. Swedbank Franchise has assumed all of DNB Bank's rights and

obligations under the sale and purchase agreement with Mellersta

Förmedlingsbolaget AB.

Swedbank and Svensk Fastighetsförmedling have signed a cooperation agreement.

"We are pleased with this solution which is good for real estate brokerage

market and which also gives a positive result, albeit by a smaller amount. The

franchisees of Svensk Fastighetsförmedling will now become a strong cooperation

partner to us. This will further broaden our network of real estate brokers

which will benefit our customers", says Cecilia Hernqvist, Head of Group

Communications at Swedbank.

"We have for some time wanted to repurchase Svensk Fastighetsförmedling and

through this transaction, we have reached this goal. Through good cooperation

with Swedbank, the entrepreneurship of the franchisees and the experience of the

employees, being close to the customers, we will create the best for the sellers

and buyers", says Håkan Hellström, CEO of Mellersta Förmedlingsbolaget AB and

Chair of Svensk Fastighetsförmedling Franchisetagareförening.

Swedbank's subsidiary, Fastighetsbyrån AB has purchased 9 per cent of the shares

in Hemnet Sverige AB and will subsequently own 34 per cent of the shares in

Hemnet. The Swedish Competition Authority has no objections to the acquisition

of the Hemnet shares. In addition, Fastighetsbyrån has entered into an option

agreement with the right to acquire further 8 per cent of the shares in Hemnet.

A possible exercise of the option right will only be made for resale purposes.

For further information, please contact:

Cecilia Hernqvist, Head of Group Communications, Swedbank AB, phone: +46

8 585 907 41

Håkan Hellström, CEO of Mellersta Förmedlingsbolaget AB and Chair of Svensk

Fastighetsförmedling Franchisetagarförening, phone: + 46 705 494 963

Swedbank promotes a sound and sustainable financial situation for the many

people, households and companies. Our vision is to contribute to development

"Beyond Financial Growth". As a leading bank in the home markets of Sweden,

Estonia, Latvia and Lithuania, Swedbank offers a wide range of financial

services and products. Swedbank has over 8 million retail customers and around

600 000 corporate customers and organisations with 314 branches in Sweden and

156 branches in the Baltic countries. The group is also present in other Nordic

countries, the US and China. As of 31 December 2014 the group had total assets

of SEK 2 121 billion. Read more at www.swedbank.com