ABGSC acted as financial advisor to Salling Bank in connection with the merger between Salling Bank and Sparekassen Vendsyssel

On 28 October 2020, Salling Bank announced the successful completion of the merger between Salling Bank and Sparekassen Vendsyssel, with Sparekassen Vendsyssel as the continuing entity. Following the transaction, Salling Bank will be delisted from Nasdaq Copenhagen.
The transaction values Salling Bank at DKK 425m, equivalent to a share price of DKK 325 and a premium of 102% to the closing price prior to the announcement of the merger plans on September 23 2020.
The combined entity will have a total balance sheet of approx. DKK 30bn, becoming one of the ten largest Danish financial institutions. The merger will create a larger and stronger local financial institution with a leading position in Northern Jutland and adjacent areas and, in turn, strengthen the competitive position in these areas.