SYNCH ACTED LEGAL ADVISOR TO THE SELLERS IN CONNECTION WITH EKSPRES BANK’S ACQUISITION OF SEVENDAY FINANS AB
Synch assisted the sellers in connection with the sale of SevenDay Finans to Ekspres Bank, a subsidiary to BNP Paribas Personal Finance. SevenDay Finans was up to 75% owned by a group of private investors and 25% owned by the current management. The acquisition was part of Ekspres Bank’s strategy to expand to the Scandinavian countries, they have already been operating in Norway and Denmark since July 2014 under the brand Ekspres Bank and is now extending its activities in Sweden with its acquisition of SevenDay Finans.
SevenDay Finans is an independent credit market company based in Stockholm, specialising in unsecured lending to private consumers in Sweden. It has assets worth 6.4 billion Swedish crowns (SEK). Its 70,000 customers benefit not only from credit and insurance solutions, but also from savings products.
Ekspres Bank is a Nordic bank and a part of BNP Paribas Personal Finance, 100% subsidiary of BNP Paribas Group, the second largest European bank. Ekspres Bank was established in 1987 and today the online bank serves hundred thousands of customers, which they offer insurance products and loans.
Synch is a Swedish law firm focused on digital business and technology targeting the market with a blended delivery model where digital services complement the advisory services and the managed legal services. Synch’s Project & Transaction Group specializes in private and public M&A, venture capital investments and financing arrangements, in particular in relation to technology companies.