Dankse Bank Unit Offloads Norway Pension Biz For $221M

By Martin Croucher (December 20, 2021, 8:58 PM GMT) -- The pensions arm of Danish banking giant Dankse Bank AS has sold its Norway operations to life insurer Storebrand Livsforsikring AS for 2 billion Norwegian Krone ($221 million), both companies said Monday.

The Norway regional subsidiary of Dankse Bank-owned Danica Pension said that the deal would likely be complete in the first half of next year, subject to regulatory approval from the country's Financial Supervisory Authority and Competition Authority. The deal involves the sale of 100% of the shares in insurer Danica Pensjonsforsikring AS Norway.

"Our customers in Denmark will benefit from an even more focused pension provider, and our Norwegian...

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