Brumm AS sold 1.3 million shares in Norwegian Finans Holding ASA to the Oslo branch of Skandinaviska Enskilda Banken AB.
The shares were sold for 92 Norwegian kroner per share under a total return swap agreement, which expires June 21, 2018.
Following the deal, Brumm AS is left with a 3.61% stake in Norwegian Finans Holding that roughly translates to 6,739,432 shares in the Norwegian bank. Norwegian Finans and Bank Norwegian AS Chairman Bjørn Kise controls 60% of the shares and 94.24% of the votes of Brumm AS.
As of Dec. 22, US$1 was equivalent to 8.34 Norwegian kroner.