Mandatum agreed on 13 August to buy 78.4% of Swedish asset manager Cliens for SEK 705m in cash.
Why Mandatum plc is buying Cliens Holding AB (78.4%)
Mandatum said the deal supports its aim of growing its capital-light business and strengthens its position in Swedish asset management. Cliens will keep its own brand within the group, and the deal is expected to add to earnings per share immediately from completion.
“Cliens is a strong strategic fit for Mandatum.”
Deal terms and financing
Mandatum will pay SEK 705m, about €64m, subject to locked-box interest and other adjustments, from existing liquidity and capital. Cliens' management and employees keep the remaining 21.6%. Mandatum's 2026 outlook and payout target are unchanged.
Regulatory approvals and timing
Completion requires approval from the Swedish Financial Supervisory Authority and the Swedish Competition Authority and is expected by the end of 2026.
Market context
Cliens had assets under management of about SEK 36bn at 30 June 2026. In 2025 it reported net revenue of SEK 222m, EBIT of SEK 123m and net income of SEK 99m.
