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Danish lenders Vestjysk, Aarhus close merger deal
Friday 30 March 2012

30 March 2012 – Danish banks Vestjysk Bank A/S (CPH:VJBA) and Aarhus Lokalbank A/S (CPH:AARHUS) have today concluded their tie-up after obtaining the last required regulatory approval along with the needed shareholder nods.

Vestjysk said in a statement on Friday that the Danish Financial Supervisory Authority had cleared the transaction. Earlier this week, the bank announced it had secured the green light from the Danish Competition and Consumer Authority.

In February, the boards of the two lenders entered into a merger plan under which Vestjysk would acquire Aarhus in an all-stock transaction. The terms of the deal call for Aarhus' stockholders to receive one new Vestjysk share in exchange for every four of their own units.

Following the transaction, Vestjysk's share capital has increased by DKK39.66m (USD3.77m/EUR5.33m) to DKK306.44m.
Date Published: 30/03/2012
Target: Aarhus Lokalbank A/S
Country: Denmark
Sector: Banking/Financial services
Buyer: Vestjysk Bank A/S