SEB Exits Norwegian Car Financing Operations
SEB has reached an agreement with Volkswagen Financial Services to transfer its car financing operations in Norway.
The operations, conducted within Møller BilFinans, provide car financing to end customers through co-operation agreements with car dealers and are owned jointly by SEB and MøllerGruppen. The business has 31 employees.
The exit decision is in line with SEB’s strategy of focusing its activities on core areas. The transaction is expected to be completed in the fourth quarter of 2009.