DNB Sells Active Fund Manager Holberg to Norwegian Billionaire

DNB Bank ASA’s investment banking unit sold its stake in active fund manager Holberg to Kistefos AS, the investment company of Norwegian billionaire Christen Sveaas, for an undisclosed amount.

The Bergen, Norway-based Holberg has about 36 billion kroner ($3.6 billion) under management in its bond and share funds. The transaction is expected to be finalized during the third quarter after customary regulatory approvals, according to an emailed statement Monday.

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