Gard AS agreed to acquire Energy & Marine Business from Alm. Brand A/S (CPSE:ALMB) for DKK 1.58 billion on July 1, 2024. A cash consideration of DKK 1.13 billion will be paid by Gard AS. The consideration consists of common equity of Gard AS having a value of DKK 450 million to be issued for assets of Energy & Marine Business of Alm. Brand A/S. As part of consideration, DKK 1.58 billion is paid towards assets of Energy & Marine Business of Alm. Brand A/S.

The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is January 1, 2025 to April 30, 2025.

Accura Advokatpartnerselskab acted as legal advisor for Alm. Brand A/S. Danke Bank Corporate Finance acted as financial advisor for Alm. Brand A/S.