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Investing.com -- Three Danish banks have agreed to merge into a single entity that will operate under the brand "AL Sydbank A/S" with headquarters in Aabenraa, Denmark.
The boards of Sydbank A/S, Aktieselskabet Arbejdernes Landsbank, and Vestjysk Bank A/S announced Monday they have entered into a merger agreement that will be presented to shareholders for approval at extraordinary general meetings scheduled for December 2, 3, and 4, 2025.
Sydbank will serve as the continuing legal entity in the transaction. The boards of all three banks have unanimously recommended that shareholders vote in favor of the merger.
The market reacted positively to the announcement, with Vestjysk Bank shares surging 33.5% and Sydbank shares rising 5.5%.
The merger brings together three distinct banking institutions: Sydbank, known as Denmark’s Commercial Bank; Arbejdernes Landsbank, which is the preferred bank for private customers in Denmark; and Vestjysk Bank, described as Denmark’s strongest local bank.
According to the announcement, the combined entity aims to become one of Denmark’s best performing, most efficient and profitable banks, built on a common set of values and a strong culture.
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