Nykredit Unveils Preliminary Results of Takeover Offer
Nykredit has announced the preliminary results regarding its takeover bid.
Nykredit Realkredit A/S has recently disclosed the preliminary findings relating to its takeover offer for all outstanding shares of Spar Nord Bank A/S, excluding treasury shares. This significant financial maneuver indicates Nykredit's commitment to expanding its operations.
Details of the Takeover Offer
The offer period for this takeover bid concluded at 23:59 CEST on the specified date. Based on the early tally of acceptances, Nykredit has successfully garnered acceptances for 72,169,403 shares of Spar Nord, which equates to approximately 61.32% of the bank's share capital and voting rights. This adds to Nykredit's existing holdings, resulting in a robust combined stake of 96.54% in Spar Nord, barring any treasury shares.
Verification Process
This impressive figure, however, is subject to adjustment as it undergoes a verification phase managed by Carnegie Investment Bank, the chosen settlement bank. This meticulous process will ensure all figures are accurate and reliable.
Regulatory Approvals
As noted in their prior communications, Nykredit has received all necessary approvals from pertinent public authorities. With this affirmation, Nykredit considers the criteria outlined in the offer document duly satisfied, marking a pivotal step toward finalizing the takeover.
Next Steps and Expected Outcomes
The final announcement regarding the results of the takeover will be made shortly within the forthcoming days. Upon conclusion of the offer, Nykredit plans to conduct a compulsory acquisition of shares held by remaining minority shareholders.
Removal from Trading
Additionally, there are plans in motion for Spar Nord shares to be delisted from trading on Nasdaq Copenhagen once the takeover is completed. Such actions are part of Nykredit's strategy to streamline its operations and enhance shareholder value.
Additional Information for Stakeholders
For further inquiries, stakeholders can reach out to the media representative, Neel Rosenberg, at +45 25 27 04 33, or contact CFO Rune Brandt Børglum at +45 96 34 42 36 for investor-related questions. This transparent communication underscores Nykredit's commitment to maintaining dialogue with its stakeholders during this critical transition.
Yours sincerely,
Spar Nord Bank A/S
The Board of Directors
Frequently Asked Questions
What is the current status of Nykredit's takeover offer?
Nykredit has announced preliminary results showing significant acceptance, with 96.54% of share capital under its control, subject to final verification.
When will the final results of the takeover be announced?
The final results are expected to be revealed shortly, with specific details to be shared soon.
How has the market reacted to this takeover announcement?
The market reaction has been positive, reflecting confidence in Nykredit’s strategy and operations.
What implications does this acquisition have for Spar Nord shareholders?
Spar Nord shareholders may be subject to compulsory acquisition, should Nykredit exceed the necessary shareholding threshold.
How can I obtain more information regarding this process?
Stakeholders can contact Nykredit's representatives for detailed information or any inquiries regarding the takeover process.
