Brief: BankNordik expects to close sale of Vørur group in H2

Foeroya Banki P/F

21/06/2016 07:14

June 21 (Reuters) - BankNordik P/F  BNORDIK.CO : 
    * Says Icelandic central bank and Icelandic FSA have approved sale of shares in Vørur group 
to Arion banki of Iceland 
    * Says regulatory approval from Icelandic competition authorities is still pending  
    * Says winding up of corporate banking activities in Denmark is progressing to plan 
    * Expects to settle corporate loans at book value of about 1 billion Danish crowns ($152.43 
million) in first six months of 2016 
    * Does not expect to receive final approval from competition authorities by end of June, 
which means transaction is expected to close in H2 
    * Intends to propose that bank distribute dividend in amount to be based on relative 
increase in group's total capital from sale 
    * Expected overall dividend distribution is expected to amount to about 300 million crowns  
 
Source text: http://bit.ly/28KzFDV 
Further company coverage:  BNORDIK.CO  
 
($1 = 6.5602 Danish crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))