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    ALMB   DK0015250344

ALM. BRAND A/S

(ALMB)
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The Danish FSA has today approved Alm. Brand's acquisition of Codan Forsikring A/S' Danish business

11/19/2021 | 05:08am EST

Company announcement no. 44/2021

INSIDE INFORMATION

The Danish FSA has today approved Alm. Brand's acquisition of Codan Forsikring A/S' Danish business

In continuation of company announcement no. 11/2021 of 11 June 2021, Alm. Brand A/S hereby informs that the Danish FSA today in accordance with section 61 of the Danish Financial Business Act has approved that Alm. Brand acquires Chopin Forsikring A/S including subsidiaries, into which Codan Forsikring A/S' Danish business will be transferred before completion of Alm. Brand's acquisition.

The acquisition is still subject to certain conditions, including receipt of approvals from antitrust authorities as well as the completion of the rights issue and the separation of Codan Forsikring A/S’ Danish business into Chopin Forsikring A/S.

Contact

Please direct any questions regarding this announcement to:

Investors and equity analysts:                 

Senior Investor Relations Officer
Mikael Bo Larsen
Mobile no. +45 5143 8002
        
Press:        

Head of Media Relations
Maria Lindeberg
Mobile no. +45 2499 8455

Attachment

  • AS 44 2021 - FSA Approval of acquisition

© OMX, source GlobeNewswire - EU Press Releases

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Financials
Sales 2021 5 494 M 837 M 837 M
Net income 2021 1 008 M 154 M 154 M
Net Debt 2021 - - -
P/E ratio 2021 18,4x
Yield 2021 2,98%
Capitalization 18 460 M 2 813 M 2 813 M
Capi. / Sales 2021 3,36x
Capi. / Sales 2022 1,97x
Nbr of Employees 1 395
Free-Float 95,4%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 11,98 DKK
Average target price 15,17 DKK
Spread / Average Target 26,6%
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Rasmus Werner Nielsen Chief Executive Officer
Andreas Ruben Madsen Chief Risk & Financial Officer
J°rgen Hesselbjerg Mikkelsen Chairman
Karen Sofie Hansen-Hoeck Independent Director
Ebbe Castella Independent Director
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