Bank 1 Oslo AS will be separated from SpareBank 1 Gruppen AS, and become an independent commercial bank, directly owned by the SpareBank 1-banks and LO.

 

SpareBank 1 SR-Bank, SpareBank 1 SMN, SpareBank 1 Nord-Norge and Samarbeidende Sparebanker AS will acquire 19.5 % of the shares in Bank 1 Oslo AS. Sparebanken Hedmark and the Norwegian Confederation of Trade Unions (LO) / affiliated trade unions will aquire 12 % and 10 % respectively.

 

Bank 1 Oslo AS has until now been a fully owned subsidiary of SpareBank 1 Gruppen AS.

 

According to the schedule, change of ownership will have effect from 1 January 2010.

 

Further information can be found in today's press release from SpareBank 1-Gruppen.

 

Contact persons at SpareBank 1 Nord-Norge

CFO Rolf Eigil Bygdnes           +47 77 62 22 11

+47 905 19774