Carlsquare A/S advised Vestjysk Bank A/S on the merger with Aarhus Lokalbank, with Vestjysk Bank as the continuing bank.
The merger was part of a funding plan intended to strengthen the merged bank’s capital base. The merger expanded Vestjysk Bank’s business platform in Eastern Jutland and created a stronger regional bank. With 642 FTE’s and 23 branches in Denmark, Vestjysk Bank gained a considerable presence in Jutland and became the 6th largest bank in Denmark.
With the merger and the funding plan the Board in Vestjysk Bank wanted to improve the funding situation of Vestjysk Bank and improve the bank’s basis for future successive redemptions of state guaranteed loans, in order to redeem all guarantees in 2016. The combined funding plan included: Voluntary conversion of state capital of DKK 297 million, preemptive rights issue of DKK 300 million, new subordinated loans of DKK 200 million and divestment of sector shares of DKK 175 million.
Carlsquare advised Vestjysk Bank in identifying strategic alternatives, identification and prioritisation of potential partners, the valuation process and preparation of ad-hoc material for decision-making regarding internal and external stakeholders and the drawing up of company statements regarding the merger as well as in relation to approval from the Danish Financial Supervisory Authority (Finanstilsynet)
Carlsquare A/S acted as financial advisor to Vestjysk Bank A/S.
| Client: | Vestjysk Bank A/S |
| Industry: | Business Services |
