Setterwalls, together with lawyer Johan Josjö, has assisted Sparbanken Västra Mälardalen and Sparbanken Rekarne in connection with intended consolidation

Setterwalls, together with lawyer Johan Josjö, has assisted Sparbanken Västra Mälardalen and Sparbanken Rekarne in connection with intended consolidation.

Sparbanken Västra Mälardalen and Sparbanken Rekarne have entered into a conditional consolidation agreement on 24 January 2025. The combined saving bank will become one of Sweden’s largest with a business volume of just over 85 billion, approximately 118,000 customers, and an operational area in five municipalities and will be owned by Sparbanksstiftelsen Rekarne (30%), Västra Mälardalen’s newly established foundation (40%) and Swedbank (30%). The transaction is conditional on, among other things, the approval of the Swedish Competition Authority and the Swedish Financial Supervisory Authority. The transaction is expected to be completed during the autumn of 2025.

Lenner & Partners is acting as financial advisor in connection with the consolidation.