Nykredit Completes Takeover Offer for Spar Nord Bank Successfully
Nykredit Announces Successful Completion of Takeover Offer
Nykredit has officially announced the final results of its recent takeover offer for Spar Nord Bank.
The takeover deal revolves around an all-cash voluntary offer to acquire all shares of Spar Nord, excluding treasury shares. This process has been significant for both institutions involved, notably Nykredit Realkredit A/S, which has taken steps to finalize its purchase of a sizable stake in Spar Nord.
Final Offer Results Revealed
The offer period for this takeover has come to a close, with Nykredit reporting that it has received acceptances for a total of 72,169,763 Spar Nord shares. This figure, combined with Nykredit’s existing holdings, allows the company to control 94.15% of Spar Nord's total share capital and voting rights.
Upon completion, Nykredit will possess approximately 96.54% of Spar Nord’s share capital, following all approved terms and conditions stated in the offer document.
Regulatory Approval and Completion Plans
Crucial approvals from relevant public authorities have been granted, with confirmations that the minimum acceptance conditions have been met. Nykredit now regards all necessary conditions for completion of the offer as fulfilled and is poised to finalize the acquisition as outlined.
The cash settlement for shareholders who accepted the offer is anticipated to occur soon, specifically around the end of the month. Shareholders who validly accepted and did not withdraw will receive their cash consideration at that time.
Implications for Spar Nord’s Shareholders
With the acquisition reaching this major milestone, Nykredit will seek a compulsory acquisition of Spar Nord shares held by minority shareholders. Achieving more than 90% ownership empowers Nykredit to move forward with this strategic initiative.
Furthermore, post-completion, Nykredit plans to approach Spar Nord regarding the removal of its shares from trading and official listings on Nasdaq Copenhagen A/S. Details regarding this delisting will be communicated separately to the involved parties.
For any inquiries related to this announcement, individuals can contact Neel Rosenberg for media inquiries or CFO Rune Brandt Børglum for investor-related questions, both available through the provided contact numbers.
Looking Ahead
Nykredit’s strategic move not only solidifies its position within the banking sector but also places it in a great path for future growth and corporate restructuring. This takeover offers significant potential for enhancing operational capabilities and financial performance, ultimately benefiting both Nykredit and Spar Nord in the long run.
Frequently Asked Questions
What was the main objective of Nykredit's takeover offer?
Nykredit aimed to acquire more than 90% of Spar Nord's shares to improve their market position and strengthen their operational capabilities.
How many shares did Nykredit successfully acquire?
Nykredit received acceptances for 72,169,763 shares, granting them a significant majority ownership.
When is the expected settlement date for shareholders?
The cash settlement is expected to take place on 28 May 2025, allowing eligible shareholders to receive their payment.
What are the next steps following the completion of the offer?
Nykredit will pursue compulsory acquisition of remaining shares and will initiate requests for delisting from Nasdaq Copenhagen A/S.
Who can be contacted for more information regarding the takeover?
Media inquiries can be directed to Neel Rosenberg, while investor relations questions should go to CFO Rune Brandt Børglum.
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