Manufacturing Industry
SYDBANK A/S - Sydbank to accept Totalkredit/Nykredit offer.
PR Newswire UK Disclose, March, 2008
Sydbank to accept Totalkredit/Nykredit offer of an amended collaboration
agreement - taxable additional income of DKK 185m for the Sydbank Group
Sydbank has accepted Nykredit's offer to amend the Totalkredit collaboration
agreement from 2003.
Provided that a majority of the financial institutions behind Totalkredit agree
to similar offers, the amended agreement will result in a taxable additional
income of DKK 185m for the Sydbank Group in Q1 2008. This income was not
included in the 2008 profit outlook as released in the Group's 2007 Annual
report.
The reason for the amendment is that the original agreement from 2003 on
Nykredit's purchase of Totalkredit provided for an adjustment of the purchase
price dependent on Totalkredit's market share as...
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