HAFSLUND – LAUNCH OF VOLUNTARY OFFER TO ACQUIRE ALL OUTSTANDING SHARES IN HAFSLUND ASA
3 July 2017, Oslo, Norway.
Reference is made to the stock exchange notice made by Oslo kommune on 26 April 2017 regarding a transaction agreement with Fortum Oyj and its intention to launch a voluntary cash offer for the shares of Hafslund ASA and the stock exchange notice published by Oslo Børs 30 June 2017 regarding approval of the voluntary offer and the offer document.
Oslo Energi Holding AS, a company wholly owned by Oslo kommune, has today launched a voluntary offer to acquire all issued and outstanding shares in Hafslund ASA at a price of NOK 96.75 per share of both class A and class B. The acceptance period in the voluntary offer runs from and including 3 July 2017 to and including 28 July 2017 at 15:00 hours (CET) (subject to extension).
Oslo kommune and Fortum Oyj have irrevocably agreed to accept the offer for all of their shares. Oslo kommune owns 67.524.647 shares of class A and 37.342.907 shares of class B. Fortum Forvaltning AS (an indirect wholly owned company by Fortum Oyj) owns 37.853.110 shares of class A and 66.559.449 shares of class B. The combined shareholdings are representing 91.3 % of the voting rights and 87.8 % of the share capital of Hafslund ASA. Upon completion of the offer, neither Fortum Forvaltning AS nor any of its affiliates will own any shares or votes in Hafslund ASA. Fortum Forvaltning AS is currently represented in the board of Hafslund ASA with the board member Petra Maria Lundström.
The complete terms of the voluntary offer are set out in the offer document dated 30 June 2017, which will be distributed to all shareholders in Hafslund ASA who have known addresses and who legally may receive such document and accept the offer. The offer document is also available free of charge at the office of the receiving agent Pareto Securities, Dronning Mauds gate 3, NO-0115 Vika, Oslo, Norway, telephone: +47 22 87 87 00.
Oslo Energi Holding AS does not hold any shares in Hafslund ASA as of today.
City of Oslo, 3 July 2017
Contact: Assistant Director General Anders Berg, Section of ownership and projects, City of Oslo, phone +47 97 19 39 39.
Important information about this release
The offer will not be made in any jurisdiction in which making of the offer would not be in compliance with the laws of such jurisdiction. This announcement does not in itself constitute an offer. The offer will only be made on the basis of the offer document and can only be accepted pursuant to the terms thereof.
The information herein is subject to disclosure requirements pursuant to section 4.2 and 4.3 of the Norwegian Securities Trading Act.