Nykredit Extends Offer Period for Spar Nord Bank Acquisition
Deal News | Apr 02, 2025 | Globenewswire
Thorough Nykredit Realkredit A/S has announced the extension of its voluntary public offer to acquire Spar Nord Bank A/S until April 24, 2025. Initially announced on December 10, 2024, the offer is priced at DKK 210 per share, valuing Spar Nord at DKK 24.7 billion. The extension allows Nykredit to secure necessary regulatory approvals from the Danish Competition and Consumer Authority to complete the transaction. Nykredit, which currently owns 32.79% of Spar Nord, aims to acquire at least 67% of the shares and has received acceptance for more than 80% in total, including irrevocable pre-commitments. The offer's completion and adjustment of the offer price to DKK 210.50 per share are now expected by May 2, 2025. The acquisition aligns with Nykredit's strategy to delist Spar Nord from Nasdaq Copenhagen and merge it with Nykredit Bank A/S. The move highlights Nykredit's ambition to consolidate and expand its influence within the Danish banking sector.
Sectors
- Banking
- Financial Services
- Mergers & Acquisitions
Geography
- Denmark – Both Nykredit and Spar Nord Bank are Danish companies, and the transaction takes place within the Danish regulatory framework.
Industry
- Banking – The primary industry involved is banking, as Nykredit and Spar Nord Bank are both financial institutions operating within this sector.
- Financial Services – This segment is involved because the acquisition involves financial services through a planned merger and real estate mortgage lending.
- Mergers & Acquisitions – The article primarily discusses a takeover offer by Nykredit for Spar Nord Bank, fitting the mergers and acquisitions domain.
Financials
- DKK 210 per share – Initial offer price per share by Nykredit for Spar Nord Bank.
- DKK 24.7 billion – Total valuation of Spar Nord Bank's issued share capital.
- DKK 210.50 per share – Adjusted offer price per share after extension of the offer period.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nykredit Realkredit A/S | Bidding Company | Company | A leading Danish financial services group that focuses on mortgage lending and banking. |
| Spar Nord Bank A/S | Target Company | Company | A major Danish bank offering a broad range of financial services across Denmark. |
| Finanstilsynet | Regulatory Authority | Government | The Danish Financial Supervisory Authority overseeing the financial market and ensuring stable financial systems. |
| Carnegie Investment Bank | Financial Advisor | Company | A leading independent Nordic investment bank advising Nykredit on the acquisition. |