Monobank ASA (OB:MONO-ME) entered into a merger agreement to acquire Brabank ASA (OB:BRA-ME) from Braganza AS and others for approximately NOK 240 million on February 8, 2019. The proposed transaction will be an all share merger with BRAbank shareholders to receive 9.25 Monobank shares per BRAbank share totaling 142.9 million new Monobank shares. BRAbank’s shareholders will own 34.3% of the total outstanding shares in Monobank following the merger, prior to the equity issues. Post-acquisition, Monobank ASA will be the surviving entity and the combined bank will be named BRAbank. Brabank will be liquidated and deleted from the register of business enterprises. Monobank's Chief Executive Officer, Bent Hilding Gjendem will continue as Chief Executive Officer for the combined bank. BRAbank's Chairman, Geir Stormorken will be appointed Chairman for the combined bank, whereas Monobank’s Chairman, Jan Greve-Isdahl will continue as Vice Chairman. The Board of Directors for the combined bank will be Geir Stormorken (Chairman), Jan Greve-Isdahl (Vice Chairman), Mette Henriksen, Tore Hopen and Kristin Krohn Devold (in addition to employee-elected members). BRAbank will be headquartered in Bergen. The transaction is subject to shareholder approval from both Monobank and BRAbank, as well as regulatory approvals. Approval of the transaction from the Norwegian Financial Supervisory Authority is expected in May/June 2019 and is subject to closure of the statutory creditor notice period and all conditions being met. The transaction is unanimously recommended by the Board of Directors of both Monobank and BRAbank and 59.4% of BRAbank shareholders and 47.2% of Monobank shareholders have pre-committed to vote in favour of the transaction. As of March 20, 2019, the deal has been approved by shareholders of Brabank at the annual general meeting. The transaction was approved at the annual general meeting of Monobank on March 20, 2019. The transaction is expected to be completed by the end of June 2019. As of June 25, 2019, the transaction is expected to complete on June 28, 2019. ABG Sundal Collier and Pareto Securities acted as financial advisors and Schjødt acted as legal advisor to Monobank. Sparebank 1 Markets acted as financial advisor and Wiersholm acted as legal advisor to BRAbank. Monobank ASA (OB:MONO-ME) completed the acquisition of Brabank ASA (OB:BRA-ME) from Braganza AS and others on June 27, 2019. All the assets, rights and obligations of Brabank have been transferred into the Monobank and Brabank has been liquidated and deleted from the Norwegian Register of Business Enterprises. Monobank ASA changed its name to BRAbank ASA.