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Jyske Bank A/S Divests Stake in Krone Kapital Group and Sells Activities in Jyske Global Asset Management


Friday, 31 May 2013 06:19am EDT 

Jyske Bank A/S announced that the Company's subsidiary, Jyske Global Asset Management A/S, has concluded an agreement to sell all its activities to the Canadian company ENR Asset Management Inc. ENR Asset Management will take over the advisory services offered to clients, but based on the agreement Jyske Bank will still operate the accounts and custody accounts of the clients. Financial details were not disclosed. Additionally, Jyske Bank A/S announced that the Company has entered into an agreement with Sparekassen Kronjylland to sell Jyske Bank's stakes in the Krone Kapital group, which carries on lending and leasing activities. The sales agreement covers 50% of the share capital in Krone Kapital A/S and 100% of the share capital in Krone Kapital III A/S. It is expected that the sale will be completed on July 1, 2013, and it is solely subject to approval by the Danish Competition and Consumer Authority. Financial details were not disclosed. 

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