Four Swedish Banks Buy Majority Interest Of Central Securities Depository
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STOCKHOLM--Nordbanken, Skandinaviska Enskilda Banken, Svenska Handelsbanken and Swedbank have recently signed an agreement with the Swedish State, Industriforbunder and the Stockholm Chamber of Commerce, to buy 75 per cent of the shares of Vardepapperscentralen (VPC)--the Swedish Central Securities Depository--for SEK 900 million (or approximately $107 million).
Previously, the banks had owned 23.6 per cent of VPC, whose principle function is to maintain a register of ownership of companies and
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