Danish bank Vestjysk wins EU okay for overhaul, state aid

Vestjysk Bank A/S

18/07/2017 15:00

BRUSSELS, July 18 (Reuters) - Denmark's Vestjysk Bank 
 VJBA.CO  gained EU regulatory approval on Tuesday for a 
restructuring plan which includes Danish private investors 
buying the government's 81.5 percent stake in the bank and 
refocusing its activities on its core business. 
    The European Commission also gave final approval to 8.941 
billion Danish crowns ($1.39 billion) in state aid granted to 
the lender five years ago. 
    "The plan enables the bank to continue to serve its many 
retail, small business and farming customers while minimising 
potential distortions to competition," European Competition 
Commissioner Margrethe Vestager said in a statement. 
 ($1 = 6.4225 Danish crowns) 
 
 (Reporting by Foo Yun Chee; editing by Philip Blenkinsop) 
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters 
Messaging: foo.yunchee.thomsonreuters.com@reuters.net)) 
 
Keywords: EU VESTJYSK BANK/RESTRUCTURING