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Nykredit

Nykredit and Sparinvest conclude conditional agreement to join forces

 

Case

Nykredit and Sparinvest conclude conditional agreement to join forces

Accura has advised Nykredit in connection with the conclusion of a conditional agreement on the acquisition of 75% of Sparinvest.

Nykredit has concluded a conditional agreement with the owners of Sparinvest Holdings SE for Nykredit to take over 75% of the shares in Sparinvest. The agreement is subject to the outcome of an ongoing due diligence process and to public authority approvals. The transaction is also subject to approval by the general meeting of Sparinvest Holdings SE.

If the transaction is completed, Nykredit will pay DKK 2.245bn for the ownership interest. In addition, the sellers will receive DKK 155m as dividends for 2018. Subsequently, the other shareholders’ ownership interest will be 25%.

Following the potential approval of the transaction, Sparinvest will become a subsidiary of the Nykredit Group.

Accura advised Nykredit.