Management companies LHV Varahaldus and Danske Capital were granted permission to merge
On Tuesday, 19 July, the Management Board of the Financial Supervision Authority granted permission to merge to Aktsiaselts LHV Varahaldus and Danske Capital AS.
This spring Aktsiaselts LHV Varahaldus acquired a sole shareholding in Danske Capital AS. After the acquisition of a sole shareholding, Aktsiaselts LHV Varahaldus as the acquiring company submitted an application for merging itself and Danske Capital AS as the company being acquired. Pursuant to the Investment Funds Act, such merge requires an authorisation for merger to be issued by the Financial Supervision Authority.
Concurrently with granting an authorisation to merge, the Financial Supervision Authority shall revoke the activity licences of the management company being acquired. Revocation of these activity licences shall enter into force no earlier than on the day a merger entry has been made into the Commercial Register. After merger, the activity of Danske Capital AS shall end and its legal successor will be Aktsiaselts LHV Varahaldus.