SpareBank 1 Sørøst-Norge

M&A Activity • Jan 19, 2024

Signing of Merger Agreement between Fremtind Forsikring and Eika Forsikring

Signing of Merger Agreement between Fremtind Forsikring and Eika Forsikring

Reference is made to previous stock exchange announcement published on 12 December 2023 regarding the signing of a letter of intent between Fremtind Forsikring AS and Eika Forsikring AS, along with their respective owners SpareBank 1 Gruppen AS, DNB Bank ASA, and Eika Gruppen AS, to merge the two companies.

On 19 January 2024, SpareBank 1 Gruppen AS, DNB Bank ASA, Eika Gruppen AS, Fremtind Forsikring AS, and Eika Forsikring AS have signed a transaction agreement. The transaction involves the three owners transferring their shares in Fremtind Forsikring AS and Eika Forsikring AS to a jointly owned company named Fremtind Holding AS. DNB will acquire a certain number of shares in Fremtind Holding AS from Eika Gruppen AS, and subsequently, the two insurance companies will be merged.

Please refer to the stock exchange announcement published on 12 December 2023 for a more detailed description of the transaction and its financial effects.

The implementation of the final transaction agreement is, among other things, subject to the condition that the parties obtain all necessary regulatory approvals without conditions that are significantly burdensome. It is expected that the transaction will be completed in the summer of 2024 at the earliest.

This information is subject to disclosure requirements pursuant to the Securities Trading Act § 5-12.

For further information, please contact:

CEO Per Halvorsen, tel +47 934 07 441

CFO Roar Snippen, tel +47 976 10 360