Svea Ekonomi AB enters significant partnership with OPR-Finance Oy
OPR-Finance Oy significantly strengthens its cooperation with Svea Group. Co-founding owner of OPR-Finance Oy Jari Ruuska has acquired 50 % of the company’s voting right A-series shares with financing provided by Svea. Consequently, Mr. Ruuska now owns the A-series share class entirely.
In connection with the arrangement, Svea has become OPR’s main financer. Svea will have a possibility to participate in development and decision making of OPR through board seats.
“To my pleasure, years of co-operation with Svea has reached a new phase. As a significant and well-known operator in the financial industry, Svea’s financing will enable us to focus on the development of our core business. In addition, closer co-operation with Svea brings us more experience and diversity,” tells OPR’s CEO Jouni Selin.
”OPR has always been a well-managed and efficient company, with whom our way of operating is very similar. Our long-lasting co-operation with OPR has been fluent and we are excited to be able to participate in developing the company in different markets.” comments Svea’s CEO Lennart Ågren.
Due to the size of the parties’ operations, the arrangement between Svea and OPR contains details that requires the approval of the Swedish Competition Authority before they enter into force. The parties are expecting the handling of the matter to be completed in near future with a favourable decision by the Competition Authority. However, the arrangement is not conditional to the approval of the Competition Authority.
OPR-Finance Oy is a Finnish owned financing group founded in 2005. It offers diverse credit services to consumers and businesses. The company operates in five EU countries. Balance sheet total of OPR-Finance Group in 2018 was EUR 241 million.
Svea Ekonomi AB is a Swedish financing group founded in 1981. It serves companies and private individuals in over ten European countries. Balance sheet total of Svea Group in 2018 was SEK 20 billion.