The Danish Competition Authority approves a merger subject to remedies including a decrease in the duration of the merged entity’s agreements with distributing banks, the regulation of profit and some measures to increase transparency in the market (Nykredit / Totalkredit)

The operation Nykredit Holding A/S was primarily a mortgage lender. However, it also had a number of subsidiaries that provided services within a range of sectors: banking; the insurance business; and real estate broking. The annual turnover of Nykredit in 2002 was DKK 30.4 billion (para. 2.1). Totalkredit A/S was also a mortgage lender. Prior to the merger, Totalkredit was owned by 106 local and regional banks that distributed mortgage loans to consumers. The annual turnover reported by Totalkredit in 2002 was DKK 7.7 billion (para. 2.2). The

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  • Kromann Reumert (Copenhagen)

Quotation

Morten Kofmann, The Danish Competition Authority approves a merger subject to remedies including a decrease in the duration of the merged entity’s agreements with distributing banks, the regulation of profit and some measures to increase transparency in the market (Nykredit / Totalkredit), 14 October 2003, e-Competitions October 2003, Art. N° 24377

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