Spar Nord: Nykredit Extends Offer Deadline for Acquisition
Deal News | Feb 18, 2025 | Globenewswire
Nykredit Realkredit A/S has announced an extension of its offer period for acquiring Spar Nord Bank A/S until March 20, 2025. Initially set to expire on February 19, 2025, the offer was extended to allow more time to obtain necessary approvals from Danish regulatory bodies. The offer aims to acquire all shares of Spar Nord Bank, except for those the bank already owns, valuing the bank's total share capital at DKK 24.7 billion (DKK 210 per share). Nykredit currently holds 32.44% of Spar Nord Bank's shares and seeks to reach an acceptance threshold of 67%. The extension ensures additional time if further approvals are required, with the deal's completion now expected by March 28, 2025. This strategic acquisition is part of Nykredit's broader expansion in the financial sector, leveraging its existing 45.2% market share in Denmark's mortgage market.
Sectors
- Financial Services
- Banking
Geography
- Denmark – The activities discussed in the article, including the acquisition offer for Spar Nord Bank, take place in Denmark, involving Danish companies and regulatory approvals.
Industry
- Financial Services – The article revolves around the financial services industry, highlighting activities in banking, mortgage finance and acquisitions.
- Banking – Spar Nord Bank operates in the banking sector, offering financial services and products, which makes this sector highly relevant.
Financials
- DKK 24.7 billion – The total valuation of Spar Nord Bank's issued share capital based on the offered acquisition price of DKK 210 per share.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nykredit Realkredit A/S | Bidding Company | Company | A leading Danish mortgage lender extending its offer to acquire Spar Nord Bank. |
| Spar Nord Bank A/S | Target company | Company | A large nationwide Danish bank with a network of 58 branches, focused on personal and SME customers. |
| Finanstilsynet | Regulatory Body | Government | The Danish Financial Supervisory Authority, responsible for approving takeover offers. |
| Konkurrence- og Forbrugerstyrelsen | Regulatory Body | Government | The Danish Competition and Consumer Authority, responsible for competition approvals related to the takeover. |
| Carnegie Investment Bank | Financial Advisor | Company | Serving as an investment advisor for the offer made by Nykredit. |