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Skandia continues divestment of Norwegian Skandiabanken

Bergen 14 April 2016: The Swedish life insurance company Skandia today announced that they are selling 25 percent of the outstanding shares in Skandiabanken ASA in Norway to the private equity fund Altor. 
- In Altor, Skandiabanken will get a shareholder with experience from the financial sector, says its chairman Niklas Midby.
- The board of directors and management team welcome Altor as a shareholder. Together with existing holders we will continue to create good customer experiences, further growth and increasing shareholder value, says Midby. 
Niklas Midby, Chairman of the board of Skandiabanken ASA, telephone +46 70 559 5270, e-mail 
About Skandiabanken ASA
In April 2000, Skandiabanken was launched as the first pure digital bank in Norway. Today, the Bank offers a comprehensive range of financial products and services to individuals and households in Norway within payments and card services, deposit-based savings, investment products, long-term loans and short-term loans. The Bank has no branches and all products and services are offered directly through the digital platform which is available on a broad range of user devices. As of end 2015, Skandiabanken had 380,731 account customers with a balance, and total assets of NOK 65,6 billion.