KPMG advised on the sale of Danske Bank International S.A. to Union Bancaire Privée (Europe) S.A.
We are delighted to announce that KPMG Deal Advisory (“KPMG”) acted as the exclusive sell-side advisor to Danske Bank A/S (“Danske Bank”) on the sale of Danske Bank International S.A. (“DBI”) to Union Bancaire Privée Europe S.A. (“UBP”).
About the deal
Danske Bank A/S has entered into an agreement with Union Bancaire Privée, UBP SA (UBP) on the sale of the business activities of Danske Bank International S.A. (DBI) in Luxembourg. The sale is conditional on approval by the relevant authorities. Final approval is expected in the second half of 2021.
Danske Bank is the largest bank in Denmark, serving more than 3.3 million personal and business customers across more than 180 branches in 12 countries. The bank is listed on NASDAQ Copenhagen and part of the OMX C25 index.
Danske Bank International S.A. is the international private banking division of Danske Bank A/S, has about 70 employees and serves around 1,000 personal customers, primarily customers living outside the Nordic countries.
UBP is one of Switzerland’s leading private banks, and is among the best-capitalised, with a Tier 1 ratio of 27.7%. The family owned bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,812 people in more than twenty locations worldwide; it held some CHF 147.4 billion in assets under management (numbers as at 31 December 2020).
Role of KPMG
KPMG Deal Advisory has provided exclusive and full scope M&A advisory services, including vendor due diligence, vendor assist, regulatory compliance, tax compliance and loan-of-staff services to Danske Bank.
KPMG Deal Advisory consistently ranks as the number one M&A adviser globally. KPMG firms operate in 146 countries with over 12,500 Deal Advisory professionals who are able to meet the needs of clients across the globe.
KPMG Deal Advisory has completed more than 2500 deals in 2016-2020, of which almost 400 have been in the financial services sector, reinforcing our global number 1 position.