AP Pension, Nykredit and Arbejdernes Landsbank to acquire a 28.3% stake in Vestjysk Bank for $191m.

AP Pension, an independent pension company, Nykredit, a Denmark's financial services company, and Arbejdernes Landsbank, a Danish bank, offered to acquire a 28.3% stake in Vestjysk Bank, a publically traded Danish regional banking company, for $191m. The transaction is subject to regulatory approvals and Arbejdernes Landsbank will raise equity to finance the transaction. “At Vestjysk Bank, we are in the process of executing the merger with Den Jyske Sparekasse. The merger is a significant strengthening of the bank because it gives us the necessary size, while at the same time we can maintain what is our special strength, namely our local anchorage. We work purposefully to become an even more profitable and efficient bank that is an integral part of the local communities in which we are present. I note with satisfaction that Arbejdernes Landsbank wants us to use the necessary efforts to make the merger a success. We are in the process of doing this, and we will continue with that work,” Kim Duus, Vestjysk Bank Chairman.