Correction: SpareBank 1 Sør-Norge to Sell Accounting, Advisory Business in Norway

11:17 AM EDT, 09/04/2026 (MT Newswires) -- (Corrects Aug. 5 story throughout to clarify the details of the deal) SpareBank 1 Sør-Norge (SB1NO.OL) agreed to sell its accounting and advisory services business in Norway to a company controlled by finance and IT services company Ecit. The lender will receive 500 million Norwegian kroner in net proceeds, including additional dividends, according to an Aug. 5 release. A potential earnout of 125 million kroner, subject to Forretningspartner's financial performance in 2028, is also included in the deal. SpareBank 1 Sør-Norge committed to reinvesting 192 million kroner for a 44.842% stake in the buyer, whose sole asset will be Forretningspartner. Closing is subject to the approval of relevant regulators in Norway.