Nordax Bank has entered into an agreement to acquire Svensk Hypotekspension from the current owners. Svensk Hypotekspension has a unique position in Sweden within equity release, enabling elderly people who own property to enhance quality of life in a risk-free manner by releasing capital tied-up in their homes. Since its inception in 2005, Svensk Hypotekspension has built a loan book of more than SEK 3.5 bn and had approx. 5,000 active customers, by the end of December 2017.
The transaction is subject to regulatory approvals.
Carnegie acted as sole financial adviser to the owners of Svensk Hypotekspension in connection with the transaction.