The Norwegian Competition Authority has given its approval to the merger between DnB Holding ASA and Gjensidige NOR ASA.
Though the decision is subject to the banks meeting certain conditions – in the shape of the sale of some companies and shareholdings – the two sides agree that it is possible to fulfill them without undermining the rationale of the merger.
The Minister of Finance, Per-Kristian Foss, today announced that the Ministry of Finance will finalise the decision on the concessions (which are subject to board approval by both banks) during this month.
Based on the details of the decision by the Competition Authority, the Banking, Insurance and Securities Commission will work out what needs to be divested for the merger to go ahead.