STOREBRAND ASA: Sale of stake in Formuesforvaltning AS

In a transaction completed pr. 22 May 2017 Storebrand Livsforsikring AS sells it 20.8% stake in Formuesforvaltning AS to Phoenix Management AS (A company owned by the management in Formuesforvaltning). The stake in the company relates to a transaction between Storebrand Livsforsikring AS and Formuesforvaltning AS in 2009 where Storebrand transferred operations to Formuesforvaltning. The transaction is expected to give a positive result contribution of around NOK 85 million in Q2 2017.

Lysaker, May 22. 2017


Head of IR Kjetil Ramberg Krøkje: or (+47) 934 12 155

Storebrand's ambition is to deliver better pensions. Storebrand will deliver sustainable solutions adapted to the customer's individual situation, so that each person receives a better pension in a more sustainable world. Storebrand has about 40.000 corporate customers and 1.9 million individual customers, and is headquartered in Lysaker outside of Oslo, Norway. Storebrand manages NOK 599bn and is Norway's largest asset manager. We work hard to reach our vision: Recommended by our customers. The Storebrand share (stb) is traded on the Oslo Stock Exchange and the company has been listed on Dow Jones Sustainability Index since its inception in 1999.

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