Svea Bank launches takeover bid for Qliro

Svea Bank has launched a cash takeover bid for the fintech payment services provider Qliro, offering 23.50 SEK per share. This offer represents an 85 percent premium over Qliro’s closing price on November 6, valuing the company at approximately 805 million SEK.

Prior to the public offer, Svea Bank entered into conditional agreements to acquire shares from major holders, including Rite Ventures, Mandatum, and Cidro Förvaltning. These transactions are intended to increase Svea Bank’s ownership from approximately 3.48 percent to 42.30 percent, crossing the threshold for a mandatory takeover bid.

The acquisition is subject to necessary regulatory approvals from authorities including the Swedish Financial Supervisory Authority (Finansinspektionen), the Swedish Competition Authority (Konkurrensverket), and the Inspectorate for Strategic Products.

Following the announcement, Qliro shares surged on the Nasdaq Stockholm exchange, rising over 80 percent in early trading. Qliro’s board has appointed ABG Sundal Collier as financial advisor and Pwc to conduct an independent valuation of the offer.