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Fort Advises AS LHV Pank on Acquisition of Danske Bank Business Unit

Fort Advises AS LHV Pank on Acquisition of Danske Bank Business Unit

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Fort's Estonia office has advised AS LHV Pank, a subsidiary of AS LHV Group, on its acquisition of Danske Bank’s business unit operating the Estonian corporate and public sector credits, which at the end of April amounted to approximately EUR 312 million.

With the transaction, LHV Pank will take over from Danske Bank the servicing of about 670 business clients and 85 public sector customers.

Fort's team consisted of Estonia Managing Partner Kuldar-Jaan Torokoff, Partners Minni Triin-Park, Kirsti Pent, and Rene Frolov, Associate Olger Kaelep, Attorneys Riin Rehepapp and Karl Kahm, and Lawyer Gerda Raag.

Fort did not reply to our inquiry on the matter.

Editor's Note: On October 6, 2020, Fort announced that, on October 3, 2020, "AS LHV Pank and Danske Bank A/S closed the transaction, under which LHV Pank acquired Danske Bank’s credit portfolio involved with Estonian corporate and public sector credits." According to the firm, "the final volume of the transaction amounted to 273 million euros."

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