Sparbanksstiftelsen Rekarne: Merger with Sparbanken Västra Mälardalen to Form a Banking Giant
Deal News | Mar 27, 2025 | Gernandt & Danielsson Advokatbyr
Sparbanksstiftelsen Rekarne is merging its partially owned Sparbanken Rekarne with Sparbanken Västra Mälardalen to form one of the largest savings banks in Sweden. Set to become a significant player in the financial services sector, the merged entity will boast a business volume of over 85 billion SEK, servicing approximately 118,000 customers across five municipalities. The merger is subject to approvals from the Swedish Competition Authority and the Financial Supervisory Authority. Post-merger, ownership will be divided among Sparbanksstiftelsen Rekarne (30%), the future ownership foundation of Västra Mälardalen (40%), and Swedbank (30%). The merger has been legally advised by Gernandt & Danielsson, with lead partner Mats Hugoson spearheading the counsel.
Sectors
- Banking
- Legal Services
Geography
- Sweden – All entities involved in the merger, including Sparbanken Rekarne and Sparbanken Västra Mälardalen, are based in Sweden.
Industry
- Banking – The article discusses a merger between two savings banks, relevant to the financial services and banking industry in Sweden.
- Legal Services – Gernandt & Danielsson's involvement as legal advisor highlights the role of legal services in facilitating mergers and acquisitions.
Financials
- 85 billion SEK – The business volume of the merged savings bank.
- 118,000 customers – The customer base of the merged savings bank.
- Ownership: Sparbanksstiftelsen Rekarne (30%), Västra Mälardalen Foundation (40%), Swedbank (30%) – Post-merger ownership distribution among the entities.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sparbanksstiftelsen Rekarne | Target and Selling Company | Company | A part-owner of Sparbanken Rekarne and a major entity in the merger. |
| Sparbanken Rekarne | Target Company | Company | A partially owned savings bank involved in the merger. |
| Sparbanken Västra Mälardalen | Bidding Company | Company | The other savings bank merging with Sparbanken Rekarne. |
| Swedbank | Other Company | Company | Owns 30% of the merged entity post-merger. |
| Gernandt & Danielsson Advokatbyrå | Legal Advisor | Company | Provided legal counsel for the merger. |
| Mats Hugoson | Lead Partner | Person | Lead partner at Gernandt & Danielsson advising on the merger. |