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SEB SEB has reached an agreement with GMAC Commercial Finance (GMAC CF) to acquire its Polish factoring and promissory note discounting operation, GMAC CF Sp. z o.o. The acquisition is expected to be completed by 31 July, 2008.
- Poland is a rapidly growing economy where we see strong demand for factoring and related products and services. SEB's clients will benefit from this acquisition which enhances our offering in Poland and brings to SEB the experienced staff and management team of GMAC CF Sp. z o.o, says Juergen Baudisch, head of SEB in Poland.
Following the acquisition, SEB offers its corporate customers a wide range of solutions in financing, cash management, trade finance, foreign exchange, leasing, vendor solutions and factoring in Poland.
SEB Enskilda acts as sole financial advisor to SEB in connection with the transaction.
About GMAC Commercial Finance Sp. z o.o Established in 2004, GMAC CF Sp. z o.o, is the largest independent factoring company in Poland with 29 employees, headquartered in Warsaw.
About GMAC Financial Services GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and employs approximately 26,700 people worldwide. For more information, go to http://www.gmacfs.com/ .
About SEB SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden, Germany and the Baltic countries - Estonia, Latvia and Lithuania. It also has local presence in the other Nordic countries, Poland, Ukraine and Russia and a global presence through its international network in another ten countries. On 31 March 2008, the Group's total assets amounted to SEK 2,399bn (EUR 251bn) while its assets under management totalled SEK 1,331bn (EUR 149bn). The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com. ____________________________________________________________________ For further information, please contact: Juergen Baudisch, Head of SEB in Poland, tel. +48 607 973 909, juergen.baudisch@seb.pl Elisabeth Lennhede, Press Officer tel. +46 707 63 99 16, elisabeth.lennhede@seb.se
