DNB Bank ASA (OB:DNB) made an offer to acquire remaining approximately 8.2% stake in Sbanken ASA (OB : SBANK) for approximately NOK 920 million on April 1, 2022. The DNB Bank offered a consideration of NOK 104.45 per Share in the compulsory acquisition for remaining 8,780,686 shares in Sbanken. The Boards of Directors of DNB and Sbanken have now approved the merger plan.The approval of the merger will be filed with Norwegian Register of Business Enterprises for the initiation of a six weeks' creditor notice period. The merger will be carried out by Sbanken transferring all its business, including all assets, rights and obligations, to DNB as the acquiring company in the merger. No merger consideration will be paid. The acquisition will be completed on or about April 6, 2022. DNB Markets acted as financial advisor and Advokatfirmaet BAHR AS acted as legal advisor to the DNB Bank in connection with the offer.

DNB Bank ASA (OB:DNB) completed the acquisition of remaining approximately 8.2% stake in Sbanken ASA (OB : SBANK) on April 6, 2022. DNB has acquired ownership to all the shares in the Company. Settlement of the consideration under the compulsory acquisition will be made no later than on April 20, 2022. As a result of the compulsory acquisition DNB will apply for a de-listing of the Company's shares from the Oslo Stock Exchange. Separate stock exchange announcements will be made regarding the timing of such de-listing.