Landesbank Kiel extends position in Finland

Having established its Copenhagen branch as the hub of its Nordic activities and also established branches in Stockholm and Helsinki in 2001, Landesbank Schleswig-Holstein Girozentrale (LB Kiel) is extending its business activities in Scandinavia and the Baltic. At the turn of the year, LB Kiel increased its stake in Finnish financial services provider PCA Corporate Finance Oy from 51% to 71% via a direct holding in a move aimed at reinforcing its advisory services for corporate customers in the Baltic Sea region. The advisory network also comprises LB Kiel’s Danish investment banking subsidiary, Gudme Raaschou, and LB Kiel’s Corporate Finance GmbH in Kiel.

Incorporated in 1992, PCA employs 35 professionals and is primarily engaged in the merger & acquisitions and private placements areas. In addition, it advises on debt and project financing.

‘Besides our Helsinki branch, PCA plays as our second pillar a key role in our business in Finland,’ comments Dr Erwin Sell, a member of LB Kiel’s management board and responsible for corporate finance business; ‘Our aim is to become one of the leading foreign banks in Finland by 2005. Also, PCA is to be an additional bridgehead for our business in the Baltic States, in which we are already very actively engaged and in which we see considerable potential for the future.’ He adds: ‘With its Nordic advisory network, LB Kiel is ideally positioned to assist customers with their increasingly important cross-border transactions.’

Reflecting the firm’s growing presence in the region, the Stockholm and Copenhagen branches of LB Kiel recently structured the debt for the acquisition by AB Segulah and Skandia Investment of NVS Nordiska Värme Sana AB.

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