Telia Company  has agreed to divest Sergel Group, its Nordic and Baltic credit management services (CMS) and debt purchase business, to Marginalen AB and Marginalen Bank Bankaktiebolag, for SEK 2,070 million (on a cash and debt free basis).

Sergel has historically been the in-house collection unit of Telia Company but has gradually expanded its strategic focus to also provide CMS and debt purchase services to external customers. Sergel is composed of six subsidiaries with business in Sweden, Finland, Norway, Denmark, Latvia and Lithuania.

The transaction is conditional on relevant regulatory approvals. Closing of the transaction is expected to take place before end of 2016.

The sellers were advised by Mannheimer Swartling in the transaction. The team was led by Biörn Riese, Tom Wehtje and Anders Bergsten, primarily assisted by Henrik Dock, Filip Lodding and Klara Apéria.