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BankNordik

Spar Nord acquires BankNordik’s Danish banking business in billion kroner transaction

 

Case

Spar Nord acquires BankNordik's Danish banking business in billion kroner transaction

Spar Nord Bank has acquired BankNordik’s Danish banking business.

BankNordik’s Danish banking business comprises a total business volume of approx. DKK 25bn distributed among approx. 60,000 customers.

The purchase price has been agreed at book value with the addition of a goodwill amount of DKK 255m, which corresponds to a net purchase price at a level of approx. DKK 2bn.

As a part of the transaction Spar Nord Bank will take over 11 branches as well as employees corresponding to 132 full time positions.

The transaction is conditional upon the approval from the Danish competition authorities and the Danish Financial Supervisory Authority.

Accura advised Spar Nord Bank in connection with the transaction.