Gernandt & Danielsson advises Altor Fund III in connection with the sale of all shares in Carnegie Holding AB to DNB Bank ASA for a total cash consideration of approximately SEK 12 billion.

Carnegie is a leading investment bank and asset manager in the Nordics, with 850 employees and assets under management totalling SEK 436 billion. Revenue is divided with 56 percent from investment services and 44 percent from wealth management.

The Transaction is conditional upon customary regulatory approvals and is expected to close in the first half of 2025.

Gernandt & Danielsson advises Altor with a team led by partners Mikael Borg and Pär Johansson, senior associate Katarina Odelberg Folke as well as associate Elias Vahman, primarily assisted by partners Niclas Rockborn (Regulatory), Andreas Holmqvist (Employment) and Foad Hoseinian (Competition), senior associate Arijan Kan (Regulatory), as well as associates Sofie Hallén (Regulatory), Sofia Hagelqvist (Competition) and Viktor Skarehag (Corporate).