- 25 February 2014
Bech-Bruun advises Jyske Bank on BRFkredit merger
Bech-Bruun client Jyske Bank merges with BRFkredit by way of an issue of shares to BRF Holding in the order of approx. DKK 7.4bn.
Jyske Bank, which is Denmark's third largest bank, joins forces with BRFkredit, Denmark's fourth largest mortgage credit institute.
Jyske Bank will acquire all shares in BRFkredit in a cash and shares deal. Based on Jyske Bank's February 24 closing price, the shares in BRFkredit are valued at DKK 7.4bn (USD 1.4bn).
The merger will create a fully integrated banking and mortgage credit group in Denmark.
The merger is expected to close in the second quarter of 2014 making BRFkredit an independent subsidiary. After the merger, BRFholding will be the largest shareholder of Jyske Bank.
See Jyske Bank’s press release BRFkredit and Jyske Bank join forces.