Wikborg Rein has assisted Danica Pension Livsforsikringsaktieselskab and Danske Bank A/S
Wikborg Rein has assisted Danica Pension Livsforsikringsaktieselskab and Danske Bank A/S with the sale of 100% of the shares in Danica Pensjonsforsikring AS to Storebrand Livsforsikring AS for a purchase price of 2.01 billion NOK.
Danica Pensjonsforsikring AS offers risk- and pension products in Norway, and the transaction will help strengthen Storebrand's position within the market for small and medium sized enterprises in the life- and pensions products market, while allowing Danske Bank A/S to execute its strategic divestment and continue its cooperation with Danica Pensjonsforsikring AS and Storebrand after completion.
Wikborg Rein's team effort was led by Ketil E. Bøe as responsible partner, Ole Andenæs and Alexander Bernhard Wintervold, with more than 25 WR lawyers involved at various stages of the transaction.
The transaction is further proof of Wikborg Rein's commitment to advising the financial industry across the entire spectre of its business, and bolsters our position as a go-to firm for transactions in regulated industries.
The transaction is expected to be completed during Q2 2022, and is subject to regulatory approvals from the Norwegian Financial Authority and the Norwegian Competition Authority.