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Swedish banks sell card processer firm

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12:14 CET+01:00
Swedbank AB, Nordea AB, Svenska Handelsbanken AB and Danske Bank A/S said they have sold their jointly owned Swedish payment card processing company CEKAB to Norway's EDB Business Partner for a total of 257 million kronor.

Swedbank formerly owned 21 percent of CEKAB, Nordea 39 percent, Handelsbanken 37 percent and Danske Bank 3 percent.

Swedbank will make a capital gain of 40 million kronor, and Nordea 50 million kronor, on

the sale.

Handelsbanken said it estimates that its capital gain will amount to around 75 million kronor.

The sale is expected to be finalised during the first half of 2007.

AFX

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