Den norske Bank (DnB)'s purchase of Skandia's asset management business is to create one of the largest players in the Nordic region, with more than 25% discretionary market share in Norway and Sweden.

DnB is paying Skr3.2bn (€346.6m) for the operation, which has Skr280bn (€30.3m) in assets under managment and 220 employees. With the acquisition DnB will have approximately Skr400bn in assets under management. Skandia Funds, which is the firm's multimanager offering, Skandia Liv, the firm's life arm, and SkandiaBanken are not part of the acquisition.