ABG Sundal Collier ASA (“ABGSC”) acted as financial advisor to the Norwegian Ministry of Trade, Industry and Fisheries (“NFD”) in evaluating the offer from DNB Bank ASA (“DNB”) to acquire NFD’s 15% ownership stake in Eksportfinans ASA (“Eksportfinans”).
Eksportfinans was established in 1962 to provide long-term financing for Norwegian export contracts. Since 2012, the company has focused solely on managing its existing loan portfolio and debt obligations with the goal of a controlled wind-down. In recent years, two strategic alternatives have been considered: either a sale where a single entity acquires all shares or a gradual liquidation of the company’s assets.
DNB, already the largest shareholder with a 40% stake, has entered into an agreement to acquire Nordea’s 23.21% stake in Eksportfinans and has extended the same price to all remaining shareholders, including NFD. The offer values the share capital of Eksportfinans to NOK 4,999 million, equivalent to 100 percent of the book equity as of 31 December 2024. In total, the state will receive approximately NOK 750 million for the shares. The government will present the matter to Stortinget.
