DNB Bank’s Acquisition of Sbanken Gets Go-Ahead After Appeal

DNB Bank said the competition tribunal repealed a decision by the country’s antitrust authority to reject the contemplated acquisition of Sbanken.

• Norwegian Competition Tribunal concluded that there was no basis to reject the acquisition
  • The decision is final and may not be challenged further by the Norwegian Competition Authority
• Settlement of the offer will take place no later than 30 March
• DNB will pay NOK104.45 for every share for which the offer has been lawfully accepted
• Following settlement, DNB will hold ~91.2% of the shares and votes in the company and intends to carry out a compulsory acquisition of the ...