Sparebanken Sør (OB:SOR) entered into an agreement to acquire an additional 6% stake in Brage Finans AS from SpareBank 1 Helgeland (OB:HELG) for approximately NOK 110 million.

Sparebanken Sør (OB:SOR) entered into an agreement to acquire an additional 6% stake in Brage Finans AS from SpareBank 1 Helgeland (OB:HELG) for approximately NOK 110 million on February 25, 2021. Under the terms, Sparebanken Sør is to purchase 8,201,312 shares at NOK 13.28 per shares. In related transactions, Spareskillingsbanken will purchase 2,847,140 shares and Næringsbanken will purchase 683,442 shares ate 13.28 per share from SpareBank 1 Helgeland.

All of the purchasers combined, will purchase 11,731,894 shares in Brage Finans AS representing 8.58%. The transfer of shares is subject to approval from the board in Brage and necessary approvals from the authorities and is planned to be carried out as soon as these requirements are fulfilled, on or about March 15, 2021.