HNA - MERGER PLAN APPROVED BY THE BOARDS

On 2 November 2001 the Boards of Directors at Hafslund ASA and Viken Energinett AS approved a merger plan for the planned merger between Hafslund's wholly-owned subsidiary Hafslund Nett Holding AS and Viken Energinett AS with consideration partly in the form of newly issued shares in Hafslund ASA. The merger plan is based on the framework agreement dated 13 July 2001, se separate notice to the stock exchange of even date, and is entered into following conclusion of due diligence investigations of the companies involved.



The merger and the former announced transactions regarding aquisiton of all shares in Oslo Energi, acquisition to 65,6% of Tindra Energi and Viken Energinett 100% control of Østnett, are major steps in Hafslund's expansion and reconditioning in the energy sector. Together these companies have a customer base of 700.000 and the Hafslund-group will be the leading downstream company in the business sector.

The prospectus for the merger is expected to be available in week 46 (the week of 12 November).

Following consideration by the Oslo City Parliament, the merger plan is expected to be submitted for approval by the general meetings of the companies involved in December. Completion of the merger is expected to occur in March 2002.

Contacts

  • Hafslund

Subscribe