Approval of new structure
Reference is made to the stock exchange notice published on 23 December 2019, in which DNB ASA’s minimum requirement for own funds and eligible liabilities (the MREL requirement) was announced. It was also announced that DNB, subject to permission from the Norwegian Ministry of Finance, had initiated a process to merge DNB ASA and DNB Bank ASA, which would make DNB Bank ASA the ultimate parent company of the DNB Group. The merger will enable the DNB Group to issue non-preferred senior debt from DNB Bank ASA.
Today, the Ministry of Finance has announced the approval of the new structure. Following the upcoming merger process, DNB Bank ASA will be the holding company in the Group, with DNB Livsforsikring AS and DNB Asset Management Holding AS as subsidiaries. Further regulatory permissions are required before we can proceed with the merger. The merger process will take place at the earliest in 2021.
For further information, please contact:
Rune Helland, head of Investor Relations, tel. (+47) 23 26 84 00 / (+47) 977 13 250
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.