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DnB NOR takes over Kid Interiør AS

08
May '09
Based on the breach of the loan agreement between DnB NOR and Nordisk Tekstil Holding, DnB NOR has initiated a process to take over ownership of the subsidiary Kid Interiør AS.

As the company's owner, DnB NOR will continue the operations of Kid Interiør AS, which has 109 outlets and more than 1 000 employees. Kid Interiør has a dominant position in the Norwegian home textile market and had a total turnover of just over NOK 860 million in 2008.

A notification of the take-over has been sent to the Norwegian Competition Authority on 7 May. Up until the take-over, which can take place in no less than three weeks, there will be continued dialogue with the owners to find an optimal solution for Kid Interiør AS.

DnB NOR is Norway's largest financial services group with total combined assets of NOK 2 141 billion. The Group consists of strong brands such as DnB NOR, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson.

DnB NOR


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