Carnegie has taken two significant steps in the development of its strategy for securities post trade processing technology: (i) Carnegie is currently undertaking a Preliminary Design Study with a third party solution provider with respect to the provision of such technology; and (ii) Carnegie has decided to acquire Alfred Berg ABN Amro’s 50 per cent holding in Capital C AB, a software development company and supplier of after trade solutions for the securities industry, currently owned 50/50 by Alfred Berg ABN Amro and Carnegie.
A provision of SEK 64 million will be made in the Carnegie accounts for 2005, corresponding to Carnegie’s existing total commitment to Capital C. As a consequence of this, Carnegie’s forecast cost range for 2005 of SEK 1,500 to 1,600 million will be exceeded. The total effect on profit before taxes (after allocation to profit share) for 2005 is SEK 32 million. Following the acquisition, Capital C will be consolidated into the Carnegie Group by 31 December 2005.
For more information, please contact:
Mats-Olof Ljungkvist (CFO), telephone +46 8 5886 9013, or Birgitta Henriksson (Investor Relations), telephone: +46 8 676 86 39.
Carnegie is an independent Nordic investment bank with activities in Securities, Investment Banking, Asset Management and Private Banking. Carnegie offers financial products and services to Nordic and international clients from offices in eight countries: Sweden, Denmark, Norway, Finland, Luxembourg, Switzerland, the United Kingdom and the US.