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| 1 minute read

Jyske Bank sale completes, a huge welcome to Trusted Novus Bank

In June 2019, Hassans advised Rooke Investments Limited on the purchase of all the shares of Jyske Bank (Gibraltar) Limited, one of the Gibraltar's leading banking institutions, for an undisclosed sum.

The transaction received regulatory approval at the end of last week, with the bank announcing that it will operate under the name Trusted Novus Bank (TNBank).

Ian Felice, Partner leading on the transaction, commented:

"It was an absolute pleasure to assist with this transaction. I am truly delighted that, through massive effort, co-ordination and team-work, we managed to push this across the line. That we were able to do this in the context of a global pandemic, with the restrictions that has placed on our ability to work 'as usual', is a tremendous feat.

Our congratulations to Rooke on its acquisition, as well as to TNBank and the whole team. In the current climate, positive business news of this type will give confidence to everyone that better financial times will lie ahead."

Chief Executive Officer, Christian Bjørløw, and Managing Director, Lars Aarup Jensen, will continue to lead Trusted Novus Bank under the new ownership.

Mr Bjørløw said: “It has been a challenging period, but we are very pleased that we have been able to complete on the transaction and continue providing banking services to our clients and jobs for our employees. We may have a new name, but we’re still the same.”

The Hassans' team advising on the transaction included: Partners Ian Felice (lead Partner), Lewis Baglietto QC, Kenneth Bonavia, Nicholas Howard, Gillian Guzman QC, Valerie Holliday, Grahame Jackson, Francis Warne and Senior Associates/Associates Darren Martinez, Chloe Oppenheimer and Tania Rahmany.

The sale of Jyske Bank has been completed and as from yesterday, it will now operate under its new name of Trusted Novus Bank, or TNBank for short, while retaining almost 100 employees. After obtaining regulatory approval at the end of last week, Jyske Bank A/S ceased to be the owners of Jyske Bank (Gibraltar) Limited.

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