Helgeland Sparebank (OB:HELG) agreed to acquire Banking business of SpareBank 1 Nord-Norge and EiendomsMegler 1 Nord-Norge AS from SpareBank 1 Nord-Norge (OB:NONG) on March 18, 2020. The transaction includes 15% stake in EiendomsMegler 1 Nord-Norge AS for NOK 20 million. There are 38 employees attached to the business to be transferred from SpareBank 1 Nord-Norge. After the business transfer, HSB expects to have about 30 redundant staff. Transaction is subject to approval from Norwegian Competition Authority and other regulatory authority. On June 19, 2020, the Norwegian Competition Authority approved the transaction. On November 5, 2020, SpareBank 1 Nord-Norge received permission from the Financial Supervisory Authority of Norway to divest its activities which are connected to the offices in Brønnøysund, Mo i Rana, Mosjøen and Sandessjøen. Furthermore, the Financial Supervisory Authority of Norway approved that SpareBank 1 Nord-Norge may become an owner of up to 20% of Helgeland Sparebank. Completion of the transaction will remain conditional on inter alia Helgeland Sparebank obtaining necessary approvals from the Financial Supervisory Authority of Norway related to (i) carrying out the planned equity capital certificate issue; and (ii) Helgeland Sparebank's entry into SamSpar. These applications will be submitted by Helgeland Sparebank to the Financial Supervisory Authority of Norway separately and in advance of completion of the transaction which is expected to be executed in second quarter 2021. As of January 20, 2021, the transaction will be implemented in several stages during 2021. The completion of the transactions is expected to strengthen Helgeland Sparebank's annual earnings by about NOK 80-120 million in the period 2022 - 2024.

SpareBank 1 Helgeland (OB:HELG) completed the acquisition of Banking business of SpareBank 1 Nord-Norge and EiendomsMegler 1 Nord-Norge AS from SpareBank 1 Nord-Norge (OB:NONG) on March 15, 2021.