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Germany's Equinet Bank to merge with Norway's Pareto Securities

Oslo-based investment bank Pareto Securities AS is taking over German lender equinet Bank AG.

Equinet said Feb. 26. that Pareto Securities already signed share purchase and transfer agreements with Equinet shareholders collectively holding more than 50% of the German lender's share capital. The Norwegian firm looks to acquire 95% or more of Equinet Bank's share capital.

The merger is subject to clearance by the ECB.

Following the deal, the German entity resulting from the merger will trade under the name Pareto Securities AG and will continue to focus on the German small and mid-cap market. Pareto Securities' current branch in Frankfurt will be integrated into the German entity.

Pareto Securities' ultimate parent is Pareto AS.