SpareBank 1 SMN : Sale of Søndre gate nos. 4-10 completed

5/18/2018, 8:41 AM (Source: GlobeNewswire)

SpareBank 1 SMN has completed the sale of the property Søndre gate nos. 4-10 with effect from 1 June. The purchaser is E.C. Dahls Eiendom.

A stock exchange notice of 9 November 2017 the bank's acceptance of a bid for Søndre gate nos. 4-10 in Trondheim city centre, and the bank's intention to retain its ownership of the old bank building at Kongens gate no. 4, which was completed in 1882.

E.C. Dahls Eiendom subsequently decided to exercise its right of pre-emption, and thereafter carried out a financial, technical and legal due diligence process. The parties have now signed a final sale agreement.

As previously announced, the gross property value is NOK 755 million, providing SpareBank 1 SMN with a net gain after an estimated tax rebate and transaction costs of just over NOK 120 million. This strengthens the bank's CET1 capital ratio by about 0.13 percentage point.

Trondheim, 18 May 2018. 

Contact persons at SpareBank 1 SMN:

Executive Vice President, Finance, Kjell Fordal on +47 905 41 672

Vice President, Corporate Communications, Hans Tronstad on +47 941 78 322

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SpareBank 1 SMN via Globenewswire

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