The merger of SpareBank 1 Østlandet and Totens Sparebank has been approved by the meeting of the Supervisory Board of SpareBank 1 Østlandet. A decision from Totens Sparebank is expected later today.
Reference is made to the stock exchange notice of 15 January 2024, regarding the decision by the boards of SpareBank 1 Østlandet and Totens Sparebank to adopt a plan for merging the banks (merger plan), and the stock exchange notice of 26 January 2024, about the summons to an extraordinary meeting in the Supervisory Board of SpareBank 1 Østlandet on 22 February 2024.
…
Vis børsmeldingen
In the extraordinary meeting on 22 February 2024, the Supervisory Board of SpareBank 1 Østlandet has approved the merger of the banks by transferring the assets, rights, and obligations of Totens Sparebank to SpareBank 1 Østlandet.
Reference is also made to the minutes from the meeting (in Norwegian) where the decision was made in accordance with the summons.
The implementation of the merger is still conditional upon the necessary approvals from the General Meeting in Totens Sparebank, expected later tonight, as well as approvals from relevant supervisory authorities without imposing conditions that significantly alter the assumptions that the banks have made under the merger plan.
The aim is to complete the merger on 1 October 2024.
Advisors
SpareBank 1 Østlandet has engaged SpareBank 1 Markets AS as financial adviser and Advokatfirmaet Selmer AS as legal adviser in connection with the merger. Totens Sparebank has engaged ABG Sundal Collier ASA as financial adviser and Advokatfirmaet BAHR AS as legal adviser.
Contact Information:
Chair of the board: Siri J. Strømmevold, tel. + 47 414 44 712
CEO: Richard Heiberg, tel. + 47 902 06 018
CFO: Geir-Egil Bolstad, tel. + 47 918 82 071
Head of Investor Relations: Bjørn-Erik R. Orskaug, tel. + 47 922 39 185
The above information is subject to the requirements of announcement pursuant to the Securities Trading Act section 5-12.
Kilde
