Corr: SpareBank 1 SMN sells shares in Bank 1 Oslo Akershus

SpareBank 1 SMN to reduce its holding in Bank 1 Oslo Akershus from 19.5 to 4.8 per cent; see stock exchange notice of 18 January 2013. 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. We wish to make clear that the change in owner structure will be achieved through Sparebanken Hedmark's acquisition of shares from SpareBank 1 SR-Bank, SpareBank 1 Nord-Norge and SpareBank 1 SMN. Each bank is to sell 475,594 shares at a price of NOK 494, corresponding to the book value of Bank 1 Oslo Akershus as of 30 September 2012. Each of the selling banks owned 19.5 per cent of Bank 1 Oslo Akershus AS  on 31 December 2012. After the share sale and other owner adjustments the new stake is 4.8 per cent. Sparebanken Hedmark  and Samarbeidende Sparebanker AS have been given, subject to further conditions, an option on the purchase of respectively two-thirds and one-third of the remaining shares up to 31 December 2015. Sparebanken Hedmark's overall share acquisition is conditional on final approval from Finanstilsynet. Trondheim, 23 January 2013 Contact persons at SpareBank 1 SMN: Group 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 This information is subject of the disclosure requirements acc. to §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 [HUG#1672492]