DNB acquires Carnegie

DNB Bank ASA (“DNB”) has entered into an agreement to acquire all the shares in Carnegie Holding AB from Altor and the minority shareholders for a total consideration of approximately SEK 12 billion.

Carnegie Holding AB is the parent company of the Carnegie group – a leading investment bank and asset manager in the Nordics. DNB is Norway’s largest financial services group and one of the largest in the Nordic region. Completion of the transaction is subject to customary regulatory approvals and is expected to occur in the first half of 2025.

Through the acquisition, DNB and Carnegie are realising their joint ambition to build a leading player across the Nordic region in investment banking, securities brokerage and research, corporate banking, private banking and asset management. To reflect the strategic importance of the transaction, DNB Markets will be globally renamed DNB Carnegie, with both companies’ strong reputations and cultures continuing under the unified brand.

Mannheimer Swartling advised DNB in the transaction.