Sbanken ASA: The merger plan between DNB Bank ASA and Sbanken ASA is approved by the Boards of Directors
Reference is made to the stock exchange notice of 14 September 2022 where it was announced that the Boards of Directors of DNB Bank ASA (“DNB”) and Sbanken ASA (“Sbanken”) had signed a joint merger plan for a parent-subsidiary merger in accordance with the provisions set out in Section 13-24 of the Norwegian Public Limited Liability Companies Act. The merger plan was registered with the Norwegian Register of Business Enterprises on 29 September 2022.
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 implementation of the merger is still conditional upon inter alia Finanstilsynet or the Ministry of Finance granting the necessary permissions to implement the merger in accordance with Section 12-1 of the Norwegian Financial Institutions Act.
For further information, please contact:
Rune Helland, Head of Investor Relations, tel.: (+47) 23 26 84 00 / (+47) 97 71 32 50
The information in this statement is subject to the disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act.