Hafslund ASA (HNA) acquires a 100% stake in Oslo Energy AS from Vattenfall

Hafslund ASA today concluded a letter of intent with Vattenfall to purchase 100% of the shares in Oslo Energi AS. In addition to issuing 6,676,287 A shares and 4,611,708 B shares to Vattenfall, Hafslund will make a cash payment of NOK 188 million.

This acquisition will enable Hafslund ASA to strengthen its position within sales of electricity and the development of new products and services for Norwegian power consumers. Active management of its ownership stakes in Viken Energinett, Tindra Energi AS and ØkoKraft AS as well as Oslo Energi AS will enable Hafslund ASA to contribute to further added value and growth within downstream activities. The total customer base of the companies is approx. 700,000 located throughout much of Eastern Norway.

Final agreement is expected finalised in August/September.

For the purpose of the pro forma accounts for Hafslund ASA the shares in Oslo Energi AS have been included with effect from 1 January 2001.

The accounts for Oslo Energi AS for 1999 and 2000 and pro forma accounts for the first quarter 2001 are attached. Also attached are pro forma shareholders list, pro forma accounts for the Hafslund group including Oslo Energi AS and the merger with Viken Energinett AS (see separate press release).

A press conference will be held at 10 a.m. on Friday, 13 July at Viken Energinett's offices at Sommerogata 1.

Oslo, 13 July 2001



  • Hafslund


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