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BRIEF-Danske Bank seeks to rearrange Finnish organisation
March 23, 2017 / 8:54 AM / 9 months ago

BRIEF-Danske Bank seeks to rearrange Finnish organisation

March 23 (Reuters) - Danske Bank

* Says is currently looking into the possibilities of merging its activities in Finland - Danske Bank Plc and Danske Bank A/S, Helsinki branch - into a single Finnish branch

* As a part of this process, the Board of Directors of Danske Bank Plc has approved a demerger plan aiming for a partial demerger pursuant to the Finnish Companies Act

* This implies that all assets, liabilities and reserves of Danske Bank Plc’s mortgage credit banking business will be transferred to an acquiring company wholly owned by Danske Bank A/S to be incorporated in conjunction with the demerger

* The reason for separating the mortgage credit banking business of Danske Bank Plc by way of a partial demerger is that the Finnish legislation requires a Finnish limited liability company as a holder of the mortgage credit banking license

* Says planned de-merger has no effects on Danske Bank Plc’s customers

* Danske bank says demerger is subject to approval by general meeting and the acquiring company obtaining necessary licenses to operate as a finnish credit institution and mortgage credit bank Source text for Eikon: Further company coverage: (Copenhagen newsroom)

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