The changes have been discussed in the boards of SpareBank 1 Gruppen and Kredinorstiftelsen and will be finally confirmed at the annual general meeting of Kredinor AS on April 25, 2024.
As a result of this, Kredinor AS becomes a subsidiary of SpareBank 1 Gruppen.
– This is a solution I am very happy to present. Both of our owners continue to support us. The fact that SpareBank 1 Gruppen is now becoming the largest owner in our company underscores the importance of solid capital and owners who step up. We have a unique ownership backing us, which we believe the market will also take note of, says CEO Rolf Eek-Johansen.
The background for the new distribution of ownership is that SpareBank 1 Gruppen in December 2023 provided Kredinor with a loan of NOK 675 million to ensure the operation of the company. Now, the loan including accrued interest is converted into share capital. The boards of SpareBank 1 Gruppen and Kredinorstiftelsen have agreed on a valuation of NOK 1.2 billion for Kredinor AS, which is the basis for the new ownership distribution.
– For us at Kredinor, this means that we can continue the work of returning to profitability after a challenging period. By fully focusing on our core business and ensuring that our clients receive the services we have agreed upon, we will succeed, says Eek-Johansen.
You can see more details on the Kredinor Investor Relation page.
On May 16, Kredinor will present the results for the first quarter of 2024.