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Sydbank and Coop amba have today signed an agreement for Sydbank to acquire Coop Bank. Gorrissen Federspiel has assisted Coop amba in the transaction.
After the acquisition, Coop Bank will be a wholly-owned subsidiary of Sydbank. Coop Bank retains its name and will continue to offer special benefits to Coop members.
The purchase price is stated at DKK 345 million but cannot be finally determined until the day of the takeover.
The transaction is subject to approval by the Danish Competition and Consumer Authority and the Danish Financial Supervisory Authority.
Approval is expected to be obtained by the end of July.
The Gorrissen Federspiel team was led by partner Bo Holse, attorney Rasmus Stenstrup-Jepsen, attorney Signe Kjørup Carlsson and assistant attorney Mette Kjems Hedegaard.