Hafslund – Will not complete the IPO of the power sales business in 2016

In stock exchange notice of 9 December 2015, Hafslund communicated to commence work on separation and a potential initial public offering of the Group's Power Sales business, Hafslund Markets, with the intention to complete an IPO during 2016.

Majority owner, City of Oslo, has informed the Board of Directors of Hafslund that they do not want Hafslund to pursue changes in the ownership of the Power Sales business now.

- The city council wants to consider such a change in Hafslund's activities in connection with the City of Oslo's overall ownership strategy, that also includes the energy sector, says City council leader Raymond Johansen.

The Board of Directors of Hafslund ASA has hence decided to terminate the work towards an initial public offering of the Power Sales business in 2016.

- The Board of Directors' decision is a natural consequence of such a clear request from the company’s majority shareholder, says Chairman of the Board, Birger Magnus.

The work to adjust the organization to meet future regulatory framework conditions, together with work to pursue the Nordic growth strategy of the Power Sales business continues, says CEO in Hafslund Finn Bjørn Ruyter.

Hafslund ASA
Oslo, 21 April 2016

For further information, please contact:
Senior Vice President Corporate communications and public affairs, Johan Chr. Hovland: Tel.: +47 917 63 491, E-mail: johan.hovland@hafslund.no

Chief Financial Officer (CFO), Heidi Ulmo, Tel.: +47 909 19 325, E-mail: heidi.ulmo@hafslund.no