Nykredit Realkredit A/S Finalizes Tender Offer for Spar Nord Bank
Nykredit Realkredit A/S Completes Tender Offer for Spar Nord Bank
Nykredit Realkredit A/S has successfully navigated through all the necessary regulatory approvals to finalize its planned voluntary public tender offer for Spar Nord Bank A/S.
Approval Process and Offer Details
Nykredit received approval from the Danish Competition and Consumer Authority, marking a crucial step in the tender process. Initially announced on December 10, 2024, Nykredit's public tender offer aimed to acquire all shares of Spar Nord Bank, excluding treasury shares, at a cash price of DKK 210 per share, valuing the entire share capital at DKK 24.7 billion. Subsequently, the offer price was adjusted to DKK 210.50 per share, enhancing its appeal to potential shareholders.
Regulatory Milestone Achieved
The completion of the offer significantly depended on satisfying the regulatory conditions outlined in the offer document. Nykredit has now obtained the last required approval, confirming its authority to exert control over Spar Nord Bank. This approval is crucial to moving forward with the scheme.
Next Steps in the Tender Offer
The offer period is set to end, and Nykredit plans to announce preliminary acceptance numbers on May 21, 2025. If successful, Nykredit will look to delist Spar Nord Bank from Nasdaq Copenhagen and may initiate compulsory acquisitions of the remaining shareholder interests, combining operations with Nykredit Bank A/S.
Strategic Vision and Growth Plans
In the wake of receiving all regulatory approvals, Michael Rasmussen, Group Chief Executive, expressed optimism about the merger. He stated, “We are excited to move forward, as both entities are poised for growth and customer engagement. Our strategic vision focuses on continuing to build strong partnerships and supporting the Danish financial market.”
Community and Customer Engagement
Nykredit aims to deepen its commitment to community and customer satisfaction with existing partners like Totalkredit, BEC, and Sparinvest. The merger signifies Nykredit’s willingness to invest further in relationships that reinforce its market position and customer service initiatives.
Contact Information for More Inquiries
For inquiries concerning the offer, interested parties may contact:
Nykredit Bank A/S
Company registration no.: 10 51 96 08
Sundkrogsgade 25
2150 Nordhavn, Denmark
Telephone: +45 7010 9000
Carnegie Investment Bank
Company registration no.: 35 52 12 67
Overgaden Neden Vandet 9B
1414 Copenhagen K, Denmark
Email: annette.hansen@carnegie.dk
Frequently Asked Questions
What is the primary goal of Nykredit’s tender offer?
The primary goal is to acquire Spar Nord Bank A/S to enhance Nykredit's market position and drive growth.
What is the newly established offer price?
The offer price has been set at DKK 210.50 per share after an initial valuation of DKK 210.
What is the anticipated timeline for the offer's completion?
The offer period will conclude on May 20, 2025, with announcements on acceptances made the following day.
Who can shareholders contact for inquiries about the offer?
Shareholders can reach out to Nykredit Bank or Carnegie Investment Bank for any questions regarding the offer.
What are Nykredit’s future plans post-acquisition?
Nykredit plans to delist Spar Nord Bank and integrate operations to strengthen customer engagement and market presence.
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