Finansiel Stabilitet, the Danish state owned company tasked with running off the assets of failed banks and credit institutions, has signed a deal to transfer 69 property companies to private investment funds affiliated with UK based Davidson Kempner European Partners LLP.
Finansiel Stabilitet, the state owned company set up to run off assets and wind up businesses of distressed banks in Denmark, has commenced a process to sell off property company exposures.
Expectation of M&A activity varies considerably across the Nordic region, according to asset managers and banks based in local markets.
Denmark’s Financial Stability Company (Finansiel Stabilitet, or FS) the state owned company responsible for acquiring and running off assets of stricken financial companies, has formally established a subsidiary to handle DKK17bn (€2.28bn) worth of assets from FIH Holding A/S.
Denmark’s Financial Stability Company (Finansiel Stabilitet) has confirmed a widely-expected deal to take over DKK17bn (€2.28bn) of property assets from FIH Erhvervsbank.
Copenhagen-based FIH Erhvervsbank has confirmed it is in negotiations that could see DKK15bn (€2bn) of property related lending demerged into a new firm that would be sold to the Danish government’s Financial Stability Company tasked with taking over the assets of distressed banks.
Finansiel Stabilitet, the Danish state owned organsiation tasked with taking over and winding up failed banks made a loss of DKK434m in its first half, compared to a profit of DKK3.8bn in the same period last year.
Creditors and depositors with deposits of more than €100,000 at Fjordbank Mors should expect losses of about 26% on the closure of the bank, according to Danish authority Finansiel Stabilitet (FS).