Jyske Bank to spend three-digit million sum integrating Formuepleje acquisition
Translated from Danish and summarized by DistantNews. Read the original for the full story.
At a glance
Newswire
Official statement
New plan
- Jyske Bank has agreed to acquire investment firm Formuepleje, which manages about 40 billion Danish kroner for 14,000 investors.
- The bank expects integration to cost 100 million kroner and the acquisition to generate 200 million kroner in annual fee and commission income.
- The deal still requires regulatory approval and could close toward the end of the year.
Jyske Bank plans to spend 100 million Danish kroner integrating investment firm Formuepleje after agreeing to acquire the company.
The bank disclosed the deal in a stock exchange announcement on Wednesday morning. It did not disclose the purchase price.
Formuepleje manages approximately 40 billion kroner for 14,000 investors and employs nearly 100 people. Jyske Bank expects the acquisition to generate about 200 million kroner in fee and commission income each year.
The transaction remains subject to the necessary regulatory approvals. If those are granted, the acquisition is expected to be completed toward the end of the year.
About this summary
Originally published by Berlingske in Danish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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