Handelsbanken Group entered an agreement with Jyske Bank in June 2022, under which Jyske Bank acquires Handelsbanken’s operations in Denmark. A cross functional 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 acquisition was completed November 30, 2022.

Handelsbanken has finalized the sale of the operations in Denmark. Handelsbanken announced on June 20, 2022 that an agreement had been reached with Jyske Bank A/S regarding the transfer of Handelsbanken’s operations in Denmark. All conditions for the transaction have been met and the Handelsbanken Group and Jyske Bank is now approved and completed. 

KPMG’s advisory services in the process included separation strategy and assessment, detailed separation planning and execution, as well as vendor assist services.

Our broad Deal Advisory offering and profound insights within all aspects of integration and 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.

Björn Dahl, Senior Partner and Head of Deal Advisory
KPMG in Sweden

Being a part of the transaction in close collaboration with the professional and experienced Handelsbanken team when separating the Danish branch gives us at KPMG a unique position within the Nordics. I am happy that the acquisition now is completed and grateful for the trust our client has given us in the process says Christina Kristensson, Partner, Financial Services at KPMG in Sweden.