We advised Elite Asset Management on their acquisition of the Alfred Berg Finland entities from Alfred Berg Asset Management AB (a subsidiary of BNP Paribas Asset Management).
The acquisition will primarily be paid for by issuing new A and B series shares to the seller, Alfred Berg Asset Management AB. After the transaction is complete, BNP Paribas Asset Management will own 19% of Elite.
Elite and the Alfred Berg Group, which is BNP Paribas Asset Management’s subsidiary in the Nordic countries, have agreed to cooperate in developing their operations and business in Finland. Through this transaction, Elite will become the exclusive distributor of BNP Paribas Asset Management’s investment products in Finland.