DNB Bank agreed to buy Swedish investment bank and asset manager Carnegie for around 12 billion Swedish kronor ($1.14 billion) in cash as it moves to bolster its Nordic footprint.The Norwegian lender will buy Carnegie from Swedish private equity group Altor and minority shareholders,

STOCKHOLM (Reuters) -Norway's largest bank DNB said on Monday it had agreed to buy Swedish investment bank and asset manager Carnegie from private equity firm Altor and minority shareholders for around 12 billion Swedish crowns ($1.14 billion).

DNB acquires Swedish investment bank Carnegie for 12 billion crowns ($1.14 billion), boosting its Nordic market presence and targeting a 15% return on invested capital.

DNB Bank ASA will acquire all the shares of Swedish financial services group Carnegie Holding AB for about 12 billion kronor ($1.1 billion) in cash.

Additionally, DNB Wealth Management has a large operation in Norway in asset management, private banking, pensions, and savings. Carnegie's brand and lengthy track record in this category, particularly in Sweden and other Nordic markets, and will provide additional prospects for the merged business throughout the Nordic region.

Norway's biggest bank, has said it will buy Carnegie Holding AB, a leading Nordic investment bank and asset manager, for SEK 12 billion ($1.14 billion). The transaction, expected to close in