Brief: Sparebank 1 SR-Bank To Acquire SpareBank 1 Forvaltning

Sparebank 1 Sor-Norge ASA

16/09/2021 07:06

Sept 16 (Reuters) - Sparebank 1 SR Bank ASA  SRBANK.OL :
    * SPAREBANK 1 SR-BANK ASA TO BECOME THE LARGEST OWNER OF
SPAREBANK
1
    * SPAREBANK 1 SR-BANK ASA (SRBNK) HAS SIGNED AN AGREEMENT TO
ACQUIRE SPAREBANK 1 FORVALTNING AS BY MERGING ITS SUBSIDIARY,
SR-FORVALTNING AS, INTO COMPANY
    * PLANS ARE BEING MADE TO LAUNCH SPAREBANK 1-FOND AND
MANAGEMENT
ENVIRONMENT IN STAVANGER IS BEING STRENGTHENED
    * FOLLOWING ACQUISITION, SPAREBANK 1 SR-BANK ASA WILL BECOME
LARGEST OWNER OF SPAREBANK 1 FORVALTNING AS WITH A STAKE OF
ALMOST 38%
    * TRANSACTION REQUIRES CONSENT OF FINANCIAL SUPERVISORY
AUTHORITY
OF NORWAY AND IS EXPECTED TO BE COMPLETED IN Q4 OF 2021
    * SALE OF ALL SHARES IN SR-FORVALTNING AS WILL RESULT IN AN
ACCOUNTING GAIN OF JUST OVER NOK 100 MILLION

Source text for Eikon:  ID:nObi3JF6qa 
Further company coverage:  SRBANK.OL 

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