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Norway’s DNB bank buys substantial stake in Ezra

Norway’s DNB bank buys substantial stake in Ezra

OSLO: Norway’s biggest bank has shelled out S$24.84 million ($17.3 million) for a 7.04 per cent stake in offshore services firm Ezra Holdings, in an off-market deal that turned it into a substantial shareholder and one of Ezra’s largest stakeholders, the Business Times reported.

DNB Bank ASA, a subsidiary of DNB ASA, paid that sum for an interest in 207 million shares on Sept. 25, Ezra said in a Singapore Exchange after-market announcement on Monday. Before the transaction, DNB had held zero direct or deemed shares in Ezra, according to the bourse filing.