March 23 (Reuters) - Danske Bank * Says is currently looking into the possibilities of merging its activities in Finland - Danske Bank Plc and Danske Bank A/S, Helsinki branch - into a single Finnish branch * As a part of this process, the Board of Directors of Danske Bank Plc has approved a demerger plan aiming for a partial demerger pursuant to the Finnish Companies Act * This implies that all assets, liabilities and reserves of Danske Bank Plc’s mortgage credit banking business will be transferred to an acquiring company wholly owned by Danske Bank A/S to be incorporated in conjunction with the demerger * The reason for separating the mortgage credit banking business of Danske Bank Plc by way of a partial demerger is that the Finnish legislation requires a Finnish limited liability company as a holder of the mortgage credit banking license * Says planned de-merger has no effects on Danske Bank Plc’s customers * Danske bank says demerger is subject to approval by general meeting and the acquiring company obtaining necessary licenses to operate as a finnish credit institution and mortgage credit bank Source text for Eikon: Further company coverage: (Copenhagen newsroom)
Danske Bank has revealed it is mulling the possibility of merging its operations in Finland into a single Finnish branch. As part of this suggested process, it has approved a demerger plan with the aim of a partial demerger in line with the Finnish Companies Act.