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Annonce
News in english 18. sep. 2012 KL. 09.04

Bank merger

Spar Nord and Spar Bank seeking merger.

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Spar Nord Bank and Sparbankare seeking to merge with Spar Nod as the continuing bank, according to a Stock Exchange announcement.

“The objective of the merger is to create a bank with nation-wide coverage and a strong market position in the North, Central and West Jutland regions as well as in a number of major cities in other parts of Denmark,” the announcement says.

According to the announcement the merger is to be effected at 2 to 1 – shareholders in Sparbank will receive two new shares in Spar Nord for each share currently held in Spar Bank.

When the merger has been completed, Sparbank shareholders will hold some nine per cent of the share capital in Spar Nord.

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Edited by Julian Isherwood