The Handelsbanken Group has entered into an agreement with Jyske Bank under which Jyske Bank acquires Handelsbanken’s operations in Denmark. A team from KPMG Sweden has carried out the separation strategy and carve-out planning, guiding and supporting Handelsbanken through the complex carve-out process.
The Handelsbanken Group and Jyske Bank are now awaiting approval of the agreement by relevant authorities.
“I’m pleased to announce that Handelsbanken has now signed an agreement with Jyske Bank for it to acquire our bank in Denmark. It’s a good solution for our customers and our employees. Together with Jyske Bank, we will strive to make the transition as smooth and uncomplicated as possible for all parties,” says Lars Moesgaard, CEO of Handelsbanken Denmark, in the official press statement.
KPMG’s advisory services in the process included separation strategy and assessment, detailed separation planning, as well as Vendor Assist services.
“Our broad Deal Advisory offering and profound insights within all aspects of integration & separation was a key part of winning the client’s trust. The complex and forward-leaning separation work carried out by our team secured a smooth journey in preparing Handelsbanken Denmark for a new owner,” says Björn Dahl, Partner and Head of Deal Advisory at KPMG in Sweden.