Stock Exchange Announcement No 14/2005
Danske Bank has today made an agreement with LaSer/Cofinoga, a France-based consumer finance company jointly owned by the Galeries Lafayette Group and Cetelem (BNP Paribas Group), to sell HandelsFinans A/S.
“The Danske Bank Group wants to focus on its core business, and the sale of HandelsFinans is part of this strategy,” says Peter Straarup, Chairman of the Executive Board of Danske Bank.
HandelsFinans was established in 1987 as a provider of loans to consumers. Today, HandelsFinans has agreements with more than 4,600 shops and department stores throughout Denmark. The new owner will take over the current management and staff of HandelsFinans.
The sale of the HandelsFinans shares means that the bank will book a profit of about DKr500m. This profit, which is not subject to tax, was not included in the profit guidance for the year announced on August 11, 2005.
Chairman of the Executive Board. Tel. +45 33 44 01 07
Member of the Executive Committee. Tel. +45 43 25 29 00