SpareBank 1 Sør-Norge to Sell Majority of Accounting, Advisory Business in Norway

01:51 AM EDT, 08/05/2026 (MT Newswires) -- SpareBank 1 Sør-Norge (SB1NO.OL) agreed to sell a majority stake in an accounting and advisory services provider in Norway to a new company under the management of IT and finance solutions provider Ecit. The Norwegian lender will retain a stake of 44.842% in SpareBank 1 Sør-Norge Forretningspartner following the sale, with the Ecit-controlled company holding 50.1% and key employees of the business owning the remaining 5.058%, according to a Wednesday release. From the transaction, the selling bank expects 500 million Norwegian kroner of net proceeds and a potential earn-out of 125 million kroner, subject to Forretningspartner's financial performance in 2028. It also expects an earnings boost of 80 million kroner from the deal. Completion is subject to the approval of relevant regulators in Norway.