Sweden-headquartered Handelsbanken has inked an agreement to transfer its Danish operations to Denmark-based Jyske Bank.
The deal includes relationships with private and corporate customers, 43 branches and around 600 employees.
The financial terms of the acquisition were not disclosed, but Handelsbanken’s assets amount to approximately SEK98bn (£8bn, $10bn, €9.3bn) as of 31 March 2022.
On the transfer date, “the present value of the asset will be calculated and reduced by the liabilities assumed by Jyske Bank, primarily constituted by deposits from the public”, Handelsbanken said.
The remaining sum will be paid in cash plus a premium of DKR3bn (£344m, $432m, €403m).
The sale is expected to close in Q4 2022, subject to customary regulatory approvals.
