Acquisition of Norwegian Folkefinans by Swedish Nordiska
The Norwegian financial institution Folkefinans AS was acquired by the Swedish financial institution Nordiska Kreditmarknadsaktiebolaget (publ), who wanted to expand its business to Norway. Folkefinans provides short term loans and consumer loans to private individuals in Norway and Sweden. The company is regulated by the Norwegian Financial Supervisory Authority (Finanstilsynet), whose regulatory approval was required for the completion of the transaction. The ownership base in Folkefinans was diversified, the largest owner being an estate of a former British payday loan company, and the remaining 90% consisting mainly of Norwegian, Icelandic, Swedish and Finnish private investors.
Deal advisor to the Company and the shareholders. December 2021