Norion Bank AB makes strategic investment in Alektum Holding AB
Norion Bank AB (“Norion Bank”) has entered into an agreement to acquire approximately 4 percent of the shares in Alektum Holding AB (“Alektum”) from G4 Capital AB (“G4”). The strategic investment is made in light of Alektum’s agreement to acquire a majority stake in Rediem Capital AB (“Rediem”), a credit market company focused on acquiring non-performing exposures (“NPL portfolios”). The ambition for Rediem is to obtain the status of a so-called specialized debt restructurer (“SDR”) by 1 January 2025, and thereafter be able to benefit from the capital adequacy changes that follow.
– We are pleased to have reached an agreement with G4 and to be able to make the strategic investment in Alektum. The regulations for handling NPL portfolios have changed, and through Alektum’s acquisition of Rediem and potential SDR status in the beginning of 2025, additional opportunities are created for Norion Bank to find advantageous collaborations regarding our NPL portfolios, says Martin Nossman, CEO, Norion Bank.
The transaction is expected to be completed during the fourth quarter and will not have any material financial impact on Norion Bank.