Nykredit Realkredit has made a takeover offer to all shareholders in Spar Nord Bank according to which Nykredit Realkredit offers to acquire all their shares at a price per share representing a significant premium compared to the listed stock price prior to the offer.
The total transaction value is approx. DKK 25bn.
The transaction is conditional upon Nykredit Realkredit acquiring more than 67% of the shares in Spar Nord Bank – Nykredit Realkredit already owns/has already secured acceptance from shareholders representing a total of 40.17% of Spar Nord Bank’s shares.
The transaction is conditional upon approvals from the Danish Financial Supervisory Authority and the Danish competition authorities.
If the transaction is completed, Nykredit will have created Denmark’s third largest bank with total outstanding loans of DKK 160bn and market shares of 13% of all Danish bank loans and 11% of all deposits.
Accura advised Spar Nord Bank in respect of the transaction
Photo: Sparnord.dk