Transaction: Divestments
Date: April 2014
Deal value: Not disclosed
Process: Private auction
Industry: Financial services and real estate

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FIH Partners advised FIH Erhvervsbank A/S (”FIH”) on the divestment of credit exposures of approximately DKK 4.0bn to Spar Nord Bank A/S.

The customer portfolio, related to approximately 900 corporate customers with a maximum credit exposure of less than DKK 50m, comprised loans and advances of approximately DKK 2.4bn, guarantees of approximately DKK 1.3bn and financial instruments of approximately DKK 0.3bn.

The transaction included FIH branches in Aarhus and Fredericia as well as part of the Copenhagen office.

Following the divestment, FIH re-evaluated its overall strategy and commercial basis and decided that FIH would no longer be active in acquiring new customers or grant new loans. Further, it was decided that FIH’s remaining customers over the coming years would cease to be clients of the bank. In accordance, activities in Markets were to be further reduced.

FIH Partners acted as exclusive financial advisor to FIH on the divestment.