Brief: Totens Sparebank And Sparebank 1 Østlandet Signs Letter Of Intent To Merge

Totens Sparebank

03/01/2024 06:36

Jan 3 (Reuters) - Sparebank 1 Ostlandet  SPOLS.OL :
    * TOTENS SPAREBANK AND SPAREBANK 1 ØSTLANDET SIGNS LETTER OF
INTENT TO MERGE
    * CEO OF TOTENS SPAREBANK ROLF ENDRE DELINGSRUD, WILL JOIN
AS A
MEMBER OF SPAREBANK 1 ØSTLANDET'S GROUP MANAGEMENT
    * TOTENS SPAREBANK TO CREATE A SAVINGS BANK FOUNDATION WHICH
BECOMES A MAJOR OWNER IN MERGED BANK
    * TOTENS SPAREBANKSTIFTELSE WILL OWN 8.6% IN MERGED BANK
    * PAYS MERGER CONSIDERATION CORRESPONDING TO 1.80 EQUITY
CAPITAL
CERTIFICATES IN SPAREBANK 1 ØSTLANDET PER EQUITY CAPITAL
CERTIFICATE IN TOTENS SPAREBANK
    * PAYS ADDITION OF CASH CONSIDERATION OF NOK 7.7880 PER
EQUITY
CAPITAL CERTIFICATE IN TOTENS SPAREBANK
    * TOTAL CASH CONSIDERATION FOR EQUITY IN TOTENS SPAREBANK IS
CALCULATED TO NOK 98.4 MILLION

Source text for Eikon:  ID:nObiS8QZxa 
Further company coverage:  SPOLS.OL 

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