Regulator approves merger of LHV and Danske pension funds
The group’s pension funds subsidiary, LHV Varahaldus, has received permission of the Financial Supervision Authority to take over Danske’s pension funds, which it had bought in spring.
After the takeover Danske Capital AS will cease its operations, its legal successor being LHV Varahaldus. LHV had bought Danske’s funds earlier this year, but needed regulatory approval to merge them with its own.
Danske announced in 2015 that it would concentrate on its business clients in Estonia, and sell its other assets.