SB1NO: SpareBank 1 Sør-Norge ASA to sell SpareBank 1 Sør-Norge Forretningspartner AS
2026-08-05 07:11:57
SpareBank 1 Sør-Norge ASA has entered into an agreement to sell SpareBank 1
Sør-Norge Forretningspartner AS ("Forretningspartner") to a company controlled
by ECIT AS (the "Buyer"). As part of the agreement, SpareBank 1 Sør-Norge will
remain a co-owner and continue its collaboration with Forretningspartner.
The transaction provides SpareBank 1 Sør-Norge with net proceeds, including
additional dividends, totaling about NOK 500 million. In addition, SpareBank 1
Sør-Norge is entitled to a potential earn-out of approximately NOK 125 million,
depending on the financial performance of Forretningspartner in 2028.
As part of the transaction, SpareBank 1 Sør-Norge has committed to reinvesting
NOK 192 million, thereby acquiring a 44.842 percent ownership stake in the
Buyer. The Buyer's sole asset will be the shares in Forretningspartner. ECIT
will own 50.1 percent of the shares, while key employees in Forretningspartner
will hold 5.058 percent.
SpareBank 1 Sør-Norge Forretningspartner was established in 2015. Over the past
11 years, the company has grown to achieve revenues of NOK 567 million and is
now among the largest providers of accounting and advisory services in Norway.
"Since 2015, we have created significant value for customers, both in
Forretningspartner and in the bank. Together, we have developed a company that,
with an owner possessing deep industry expertise, will be even better positioned
for further growth and development," says Inge Reinertsen, CEO of SpareBank 1
Sør-Norge.
The agreement provides ECIT and SpareBank 1 Sør-Norge with reciprocal rights to
purchase and sell shares in Forretningspartner during the period 2028-2033, at a
pre-agreed price corresponding to the higher of cost and market value.
Completion of the transaction is subject to approval by the Norwegian
Competition Authority and that the Financial Supervisory Authority of Norway
raises no objections.
"For ECIT it is an honour to cooperate with SpareBank 1 Sør-Norge ASA - a
sizeable, very well-run Norwegian bank with strong local roots. It is a priority
for ECIT to build further on the foundation laid by SpareBank 1 Sør-Norge ASA -
enabling Forretningspartner to take advantage of ECIT proprietary tech,
including increased use of AI" says Peter Lauring, Group CEO of ECIT.
The transaction will result in a positive contribution to earnings for SpareBank
1 Sør-Norge of approximately NOK 80 million.
"The Group is releasing capital to strengthen our ability to invest in our core
businesses, brokerage and banking, which enhances capital efficiency and
supports strong returns for our shareholders," says Reinertsen.
As a co-owner, SpareBank 1 Sør-Norge will continue its collaboration with
Forretningspartner, ensuring that the bank's corporate customers retain access
to a broad and attractive range of accounting and advisory services.
"SpareBank 1 Sør-Norge and Forretningspartner have together done a strong job in
building an attractive company, and I am very grateful for all those who have
contributed to this. With ECIT as the main owner, we gain increased momentum for
further growth and strong conditions to enhance our competitiveness," says Atle
Håvarstein Nilsen, CEO of Forretningspartner.
"Access to a large IT and technology environment is particularly exciting, as it
will further strengthen our offering to customers," he adds.
SB1 Markets acted as financial advisor to SpareBank 1 Sør-Norge ASA in
connection with the transaction.
Stavanger, 5 August 2026.
Contacts:
Inge Reinertsen, CEO, SpareBank 1 Sør-Norge, tel. +47 909 95 033
Peter Lauring, CEO, ECIT, tel. +47 40 45 38 04
Øyvind Knoph Askeland, Director of Communications, SpareBank 1 Sør-Norge, tel.
+47 922 32 639
Marcus Birk, SVP Communications, ECIT, tel. +45 93 60 53 20
This stock exchange announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation (MAR) and is subject to the disclosure
requirements pursuant to Article 17 of MAR and Section 5-12 of the Norwegian
Securities Trading Act.
to the disclosure\
requirements pursuant to Article 17 of MAR and Section 5-12 of the Norwegian\
Securities Trading Act. \
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