Bank collaboration in Helgeland – the Norwegian Competition Authority has cleared the transaction

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Reference is made to stock exchange notice of 18 March stating that SpareBank 1 Nord-Norge and Helgeland Sparebank are to establish a strategic, future-oriented collaboration. SpareBank 1 Nord-Norge will become a long-term owner of Helgeland Sparebank with a 19.99% stake of the bank’s equity certificates. For its part, Helgeland Sparebank will acquire SpareBank 1 Nord-Norge’s banking business linked to the branches in Helgeland. Helgeland Sparebank will concurrently join the SpareBank 1 Alliance by becoming part of SamSpar. On 19 June 2020, the Norwegian Competition Authority cleared the transaction.