DNB Bank ASA (OB:DNB) made an offer to acquire remaining approximately 8.2% stake in Sbanken ASA (OB : SBANK) for approximately NOK 920 million.

DNB Bank ASA (OB:DNB) made an offer to acquire remaining approximately 8.2% stake in Sbanken ASA (OB : SBANK) for approximately NOK 920 million on April 1, 2022. The DNB Bank offered a consideration of NOK 104.45 per Share in the compulsory acquisition for remaining 8,780,686 shares in Sbanken. The Boards of Directors of DNB and Sbanken have now approved the merger plan.The approval of the merger will be filed with Norwegian Register of Business Enterprises for the initiation of a six weeks' creditor notice period.

The merger will be carried out by Sbanken transferring all its business, including all assets, rights and obligations, to DNB as the acquiring company in the merger. No merger consideration will be paid. The acquisition will be completed on or about April 6, 2022.

DNB Markets acted as financial advisor and Advokatfirmaet BAHR AS acted as legal advisor to the DNB Bank in connection with the offer.