Competition Authority grants permission to LHV Pank to acquire the unit of Danske Bank involved with Estonian private loans
Source: GlobeNewswireOn 19 June 2019, the Estonian Competition Authority has granted AS LHV Pank a concentration permit, fulfilling one of the prerequisites for the transaction between AS LHV Pank and Danske Bank A/S, according to which LHV Pank will acquire the unit of Danske Bank involved with Estonian private loans (disclosed in 3 June Market Announcement).
AS LHV Pank, a subsidiary of AS LHV Group, and Danske Bank A/S signed the business transfer agreement on 5 June 2019 (Market Announcement). The transaction will be finalised in the autumn of the current year, when the final scope and price of the transaction will also be determined. The remaining prerequisite for finalising the transaction is raising additional capital for LHV Group.
Priit Rum
LHV Communication Manager
Telephone: 502 0786
E-mail: priit.rum@lhv.ee
