Sbanken Boligkreditt AS: Merger with sister company DNB Boligkreditt AS
The Boards of Directors of DNB Boligkreditt AS (“DNB BK”) and Sbanken Boligkreditt AS (“Sbanken BK”) have signed a merger plan for the merger of Sbanken BK into DNB BK. Extraordinary general meetings of DNB BK and Sbanken BK were held following the board meeting, which approved all items on the agenda, including the merger plan for the merger. The approval of the merger will be filed with Norwegian Register of Business Enterprises for the initiation of a six weeks' creditor notice period.
Both DNB BK and Sbanken BK are wholly owned subsidiaries of DNB Bank ASA, and the merger will be completed in accordance with the provisions as set out in Section 13-24 of the Norwegian Private Limited Liability Companies Act, cf. Section 12-1 of the Norwegian Financial Institutions Act.
The merger will be carried out by Sbanken BK transferring all its business, including all assets, rights and obligations, to DNB BK as the acquiring company in the merger. No merger consideration will be paid. Sbanken BK will subsequently be liquidated.
The purpose of the merger is to fulfil the conditions set out in the Ministry of Finance's acquisition permit of 1 July 2021. The implementation of the merger is 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 pursuant to Oslo Stock Exchange's continuing obligations.
