DNB Bank ASA (“DNB”) has entered into an agreement to acquire all the shares of Carnegie Holding AB, from Altor and the minority shareholders for a total consideration of approximately SEK 12 billion (the “Transaction”). The Transaction is subject to approvals from authorities in applicable jurisdictions and is expected to close in the first half of 2025.
Carnegie Holding AB is the parent company of the Carnegie Group (“Carnegie”) – a leading investment bank and asset manager in the Nordics with 850 employees, deriving 56 per cent of its revenue from investment services and 44 per cent from wealth management.
– Through the acquisition of Carnegie, our goal is to provide even better solutions to our clients. We and Carnegie are realizing our 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. Carnegie is a perfect fit, in-line with our strategy, and the Transaction marks a step change in increasing the share of fee related income for DNB as a whole, Kjerstin Braathen, CEO of DNB, says.
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.
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