SpareBank 1 Gruppen AS retains 65 % ownership in Fremtind Forsikring AS

SpareBank 1 Nord-Norge's partly owned company SpareBank 1 Gruppen has, as previously communicated, entered into an option agreement with DNB that could reduce the company's ownership interest in Fremtind Forsikring AS from 65 % to 60 % ownership no later than the end of Q1 2020. By option deadline, Tuesday 31 March 2020 at 24:00, SpareBank 1 Gruppen has not received the necessary notification from DNB regarding the requirement to exercise, and the option has therefore lapsed in its entirety.

DNB has stated that they are satisfied with the cooperation and development of Fremtind Forsikring AS, and is interested in increasing its stake in the company in the long term. However, due to the circumstances in today's market, DNB has stated that exercising such an option is not desirable today.

SpareBank 1 Gruppen AS and DNB ASA thus retain the current ownership shares of 65 % and 35 % respectively. DNB ASA has further stated that they wish to resume the dialogue with SpareBank 1 Gruppen AS to increase their ownership interest in Fremtind Forsikring AS.