SpareBank 1 SMN divests shares in Bank 1 Oslo Akershus
SpareBank 1 SMN to reduce its holding in Bank 1 Oslo Akershus from 19.5 to 4.8
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
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 TrÃ¸ndelag and in MÃ¸re 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 atÂ www.smn.no.
This information is subject of the disclosure requirements acc. to Â§5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. 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