Denmark's Jyske Bank Puts Up $1.4B For Mortgage Lender

Law360, New York (February 24, 2014, 4:04 PM EST) -- Denmark's Jyske Bank agreed to buy BRFkredit, the Danish mortgage credit firm, for 7.4 billion Danish crowns ($1.4 billion) in a stock and cash deal, the companies said Monday. 

Under the deal, Jyske will take over BRFkredit's shares before issuing new Jyske shares to give BRFkredit shareholders a 25 percent stake in the bank. BRFkredit will become Jyske's largest shareholder. The goal is an integrated banking and mortgage credit group that will become a financial heavyweight in Denmark.

"The merger between BRFkredit and Jyske Bank is...
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