Sydbank’s DKK 1.8 Billion Acquisition of Alm. Brand Bank

Accura advised Alm. Brand Bank.

Alm. Brand has sold its entire banking business to Sydbank for approx. DKK 1.8bn.

The transaction results in the transfer of 55,000 bank customers, 350 employees and bank loans and advances totalling more than DKK 20bn from Alm. Brand to Sydbank, making Sydbank the largest distributor of Totalkredit mortgage loans.

Concurrently with the transaction, Alm. Brand and Sydbank have established a new strategic partnership to create attractive financial solutions to the benefit of the customers of both groups.

Following the transfer of the banking business to Sydbank, Alm. Brand will now focus on pension and insurance products.

Accura team was led by Mads Kjellerup Dambæk and included Brian Bundgaard (Picture), Tue Rønholt Hansen, Christina Heiberg-Grevy, Poul Erik Lytken, Kenny Michael Andersen, Nikolaj Grønvald Hansen and Julius Sander.

Involved fees earner: Kenny Michael Andersen – Accura; Brian Bundgaard – Accura; Nikolaj Grønvald Hansen – Accura; Christina Heiberg-Grevy – Accura; Mads Kjellerup Dambæk – Accura; Poul Erik Lytken – Accura; Tue Rønholt Hansen – Accura; Julius Sander – Accura;

Law Firms: Accura;

Clients: Alm. Brand Bank A/S;