Seb To Acquire Airplus To Create A Leading European Provider In Corporate Payments

SEB Kort Bank AB, a leading corporate payment solutions provider in the Nordics and wholly owned subsidiary of SEB Group, has entered into an agreement with Lufthansa Group to acquire all shares in Lufthansa AirPlus Servicekarten GmbH, a leading provider within corporate payment services. Together, SEB Kort and AirPlus will become a European leader in corporate payment solutions. For a cash purchase price of EUR 450 million, the transaction will provide SEB Kort with additional scale, a strong footprint for further growth in Europe, and a modern IT platform. Furthermore, the transaction is expected to result in synergies and complements SEB Group's broader corporate banking ambitions in the DACH region (Germany, Austria and Switzerland) and Northern Europe.