Sparebanken Vest together with the 3 largest owners entered into an agreement to acquire an additional 3.88% stake in Frende Holding AS from Helgeland Sparebank (OB:HELG) for approximately NOK 140 million on June 24, 2020. Sparebanken Vest together with the 3 largest owners will acquire 0.26 million shares for NOK 517.75 per share. Prior to the transaction, Sparebanken Vest holds 41.4% stake in Frende Holding AS. The transfer of shares is subject to approval from the Board in Frende and conditional upon necessary approvals from the authorities. As of June 30, 2020, Sparebanken Vest acquired 0.11 million shares in Frende Holding. This transfer of shares is planned to happen at the beginning of 2021.

Sparebanken Vest together with the 3 largest owners completed the acquisition of additional 3.88% stake in Frende Holding AS from Helgeland Sparebank (OB:HELG) during quarter ending December 31, 2020.