To Nasdaq OMX Copenhagen
24. March 2014
Company Announcement No 06/2014
Sale of Nets shares
Today, Advent International, ATP and Bain Capital have, as announced in a press release, entered into an agreement to acquire all shares in Nets from the existing shareholders, consisting of a group of 186 banks, primarily in Denmark and Norway. The shares are acquired against an aggregate consideration of DKK 17 bn., equal to DKK 92.37 per share. In addition, the current shareholders will receive dividend for 2013 totalling DKK 498 mill. or DKK 2.70 per share.
The Supervisory Board of Nets unanimously recommends the shareholders to accept the offer, and shareholders representing more than 90 per cent of the share capital and voting rights, including The BANK of Greenland, have signed irrevocable undertakings to sell their shares.
The transaction is subject to regulatory approval and is expected to be completed in Q2 2014.
In accordance with the accounting rules, The BANK of Greenland determines the Nets shares at fair value (in Danish “dagsværdi”). The acquisition implies that a capital gain of DKK 5.5 mill. will be booked as income in Q1 2014. In addition The BANK of Greenland will receive DKK 0.455 mill. as dividend.
The BANK of Greenland
Martin Kviesgaard
General Manager
Telephone: +299 34 78 02
E-mail: mbk@banken.gl
