Norway’s DNB Bank to Buy Carnegie Holding for $1.1 Billion (2)

DNB Bank ASA will acquire all the shares of rival Swedish firm Carnegie Holding AB for about 12 billion kronor ($1.1 billion), providing yet another example of consolidation in the Nordic region as banks look to adjust geographical footprints and revenue lines.

The Oslo-based bank entered into an agreement with Carnegie’s main owner, Harald Mix’s Altor Equity Partners, as well as the minority shareholders, to buy the Swedish group in cash, according to a statement on Monday.

Harald Mix

Source: Vargas Holding AB

The deal follows a spate of merger and acquisition activity in the region in recent years as lenders such as ...