SpareBank 1 SMN divests shares in Bank 1 Oslo Akershus
January 18, 2013 - London
SpareBank 1 SMN to reduce its holding in Bank 1 Oslo Akershus from 19.5 to 4.8 per cent.
The owner structure of Bank 1 Oslo Akershus will change due to a stock placing designed to strengthen the bank's tier 1 capital ratio. Sparebanken Hedmark is to increase its stake in Bank 1 Oslo Akershus from 12.0 til 40.5 per cent, and has an option on a further increase.
The regional banks SpareBank 1 SR-Bank, SpareBank 1 Nord-Norge and SpareBank 1 SMN have for a period expressed a desire to disinvest in Bank 1 Oslo Akershus, which is remote from their respective main markets.
The stock transactions require the approval of Finanstilsynet (Norway's financial supervisory authority) which is expected in the course of January 2013. See also Sparebanken Hedmark's stock exchange notice, dated 18 January 2013
Trondheim, 18 January 2013
Contact persons at SpareBank 1 SMN:
CEO, Finn Haugan on (47) 900 41 002
Head of Corporate Communications, Hans Tronstad on (47) 941 78 322
About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the retail and corporate market, and is positioned in 43 localities across the region's municipalities with a total of 51 offices.
We aim to be the recommended bank for customers in Trøndelag and in Møre and Romsdal. Being a local, independent savings bank we feel a special responsibility for stimulating growth and prosperity in the region. We base our business on closeness to our customers, good accessibility, a full product range and comprehensive financial advisory services.
Our head office is in Trondheim. The Group employs about 1,200 staff and includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1 Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap. It is the largest shareholder in BN Bank with a 33% stake.
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further information, visit our website at www.smn.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: SpareBank 1 SMN via Thomson Reuters ONE