Sparebank 1 Ostlandet (SPRBF) has released an update.
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Norway’s Financial Supervisory Authority has approved the merger between Fremtind Forsikring AS and Eika Forsikring AS, set to be completed on July 1, 2024, with a final merger approval expected by October 1, 2024. SpareBank 1 Gruppen AS will be the majority shareholder in the new entity, Fremtind Holding AS, resulting in an approximately NOK 7 billion equity increase for the group. SpareBank 1 Østlandet, owning a 12.4% stake in SpareBank 1 Gruppen AS, will see an equity increase of roughly NOK 320 million.
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