Block Watne Gruppen - Approvals granted for the acquisition of Prevesta AB
(Oslo 24 May 2007) Approval from the Financial Supervisory Authority in Sweden concerning Block Watne Gruppen's acquisition of Prevesta AB, was granted yesterday. The approval from the Commissariat aux Assurances in Luxembourg was granted 4 May 2007.
As announced 26 March 2007, the closing of the acquisition was conditional upon the Financial Supervisory Authority in Sweden and the Commissariat aux Assurances (Insurance Regulatory Authority) in Luxembourg approving the indirect change of ownership of two insurance companies, Gar-Bo Försäkring AB and Agat Re SA in Luxembourg, in which Prevesta indirectly owns 33.6 percent.
Based on the granted approvals, closing of the acquisition of Prevesta will take place 31 May 2007.
The issuance of 6 502 242 new BWG-shares to the sellers of Prevesta will be completed in connection with the closing of the acquisition of Prevesta.
Further information from:
Lars Nilsen, CEO, Block Watne Gruppen ASA, tel: +47 23 24 60 00
Ketil Kvalvik, CFO, Block Watne Gruppen ASA, tel: +47 23 24 60 42, +47 90 77 13 15