SEB Acquires GMAC Commercial Finance in Poland
SEB has reached an agreement with GMAC Commercial Finance (GMAC CF) to acquire its Polish factoring and promissory note discounting operation, GMAC CF Sp. z o.o. The acquisition is expected to be completed by 31 July 2008. SEB says that it has seen a strong demand for factoring and related products and services in Poland and it hopes that, following the acquisition, it can offer Polish corporate customers a range of solutions in financing, cash management, trade finance, foreign exchange, leasing, vendor solutions and factoring. The staff and management team of GMAC CF Sp. z o.o will be taken on by SEB. SEB Enskilda acts as sole financial advisor to SEB in connection with the transaction.