Acquisition of all shares in DnB NORD
DnB NOR has concluded an agreement to acquire the German bank NORD/LB’s 49 per cent ownership interest in DnB NORD for a consideration of EUR 160 million in cash.Since year-end 2005, DnB NOR ASA (DnB NOR) and Norddeutsche Landesbank Girozentrale (NORD/LB) have jointly owned Bank DnB NORD A/S (DnB NORD). On 2 August 2010, DnB NOR exercised its option to acquire NORD/LB’s 49 per cent ownership interest in DnB NORD. Since then, the parties have been in negotiations to agree on the consideration for the shares. An agreement has now been reached whereby DnB NOR pays a cash consideration of EUR
