Norway's DNB Bank buys substantial stake in Ezra

Singapore

NORWAY'S biggest bank has shelled out S$24.84 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.

DNB Bank ASA, a subsidiary 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.