LHV Pank and Danske Bank have signed the business transfer agreement of private loans
As stated in the stock exchange announcement published on 3 June, today, on 5 June AS LHV Pank, a subsidiary of AS LHV Group, and Danske Bank A/S signed the business transfer agreement, according to which LHV Pank will acquire the unit involved with private loans of Danske Bank’s Estonian branch, that essentially consists of the loan portfolio of private clients.
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. Prerequisites for finalising the transaction are getting permission from the Competition Authority and raising additional capital for LHV Group. The transaction is not to be considered a transaction with related parties.
LHV Communication Manager
Phone: +372 502 0786