Sydbank A/S (CPSE:SYDB) concluded an agreement to acquire Coop Bank A / S from Coop Amba for approximately DKK 350 million on May 21, 2024. The consideration consists of payment of the value of the equity at the date of acquisition plus DKK 89 million. Following the acquisition, Coop Bank will become a wholly owned subsidiary of Sydbank A/S. The transaction is subject to approval of Danish financial supervisory authority and Danish Competition and Consumer Authority and is expected to be closed on July 31, 2024. On June 27, 2024 Danish Financial Supervisory Authority and the Danish Competition and Consumer Authority have approved the acquisition by Sydbank A/S of Coop Bank A/S.

Sydbank A/S (CPSE:SYDB) completed the acquisition of Coop Bank A / S from Coop Amba on July 1, 2024.