SEB has completed the divestment of SEB Asset Management to Savills for €21.5 mln.

SEB has completed the divestment of SEB Asset Management to Savills for €21.5 mln.

The transaction was first announced in March.

SEB Asset Management has 148 employees and managed real estate assets of about €10 bn globally on behalf of investors, with a particular emphasis on Europe and Asia.

The company has been combined with Savills' investment management business, Cordea Savills, which is being rebranded as Savills Investment Management.