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Norway's DNB in $1.3 bln deal to buy Sbanken

OSLO, April 15 (Reuters) - Norway’s largest bank DNB has agreed to buy smaller competitor Sbanken in a deal worth 11.1 billion Norwegian crowns ($1.32 billion), the two announced on Thursday.

DNB will offer 103.85 crowns per share for Sbanken, a 29.8% premium over Wednesday’s closing price.

$1 = 8.3984 Norwegian crowns Reporting by Terje Solsvik; Editing by Toby Chopra

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