The energy company OK must immediately have an additional 155 million DKK out of its coffers to buy half of Coop Danmark as agreed. OK confirms this to Finans.
As part of the deal, Coop amba, the association behind Coop Danmark, and OK were to contribute a total of two billion DKK to Coop Danmark. The money from Coop amba was to come from the sale of Coop Bank, among other things.
According to Finans, up to 500 million DKK was to come from the sale of the bank. On Tuesday, it was announced that Sydbank is buying Coop Bank for 345 million DKK. The shortfall left by the purchase price will be covered by OK.
- OK covers the remaining amount and thus increases its capital contribution, subject to approval by the competition authorities. It has always been part of the agreement that this could be necessary, OK's communications manager, Rasmus Boserup, tells Finans.
When selling Coop Bank to Sydbank, the parties have agreed on a trading price, where the value of the equity as of the takeover date has been calculated and then 89 million DKK added.
This means that the transaction currently has a value of 345 million DKK. The final purchase price can only be announced on the takeover date, which is expected to fall in July.
It was announced on April 12 that OK and Coop amba had entered into an agreement, where OK will roughly take over half of the ownership of Coop Danmark. The agreement was approved by Coop's national council a week later.
/ritzau/
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