Finance
Nykredit secures 80% stake in Spar Nord Bank, plans takeover and delisting
Published by Global Banking & Finance Review®
Posted on March 19, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 19, 2025
1 min readLast updated: January 24, 2026
Nykredit secures over 80% stake in Spar Nord Bank, plans takeover and delisting to form Denmark's third-largest bank by April 3.
COPENHAGEN (Reuters) -Danish lender Nykredit said on Wednesday it has secured a stake of more than 80% in Spar Nord Bank following a $3.6 billion bid for its domestic rival last year, and aims to complete a takeover and a delisting of the bank's stock.
The offer period to Spar Nord shareholders has been extended to April 3, Nykredit said in a statement.
The CEO of Nykredit, Michael Rasmussen, said it intended to combine Spar Nord with its subsidiary Nykredit Bank and plans to form Denmark's third-largest bank.
"It will not be relevant to speculate on whether Nykredit will increase its tender offer at a later point," Rasmussen said in a statement.
"At the latest following the combination we will delist Spar Nord Bank from Nasdaq Copenhagen and carry out a compulsory acquisition of the remaining shares," he said.
The two companies first announced the 24.7 billion Danish crowns ($3.61 billion) agreed offer in a joint statement in December.
($1 = 6.8396 Danish crowns)
(Reporting by Terje Solsvik and Stine Jacobsen, editing by Jacob Gronholt-Pedersen)
The article discusses Nykredit's plan to take over and delist Spar Nord Bank after securing over 80% stake.
Nykredit aims to form Denmark's third-largest bank by combining Spar Nord with Nykredit Bank.
The offer period to Spar Nord shareholders has been extended to April 3.
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