HNA - ACQUISITIONS IN TINDRA AND ØSTNETT
Batch Number : 201271
Hafslund already owns 36,6% of the shares in Tindra and will, after the acquisition, own 74,6% of the company. Tindra is one of the leading power sales companies in Norway with around 240.000 customers. The company has 60 employees at its headquarter in Oslo.
Balance Sheet for Tindra follows as attachment:
At the same time as Hafslund has entered into an agreement to acquire the shares in Tindra from Akershus Energi, Viken Energinett AS has entered into an agreement to acquire the Akershus Energi equity stake in Østnett. This equity stake represents around 26% of the equity and around 51% of the voting share in Østnett. As a consequence, Østnett will become a fully owned subsidiary of Viken Energinett.
Østnett includes local and regional grid in Akershus County, regional grid in Østfold County, equity stake in Gjermå Energi AS, Rygge Elverk AS, Rakkestad Energiverk AS, Fjernvarme Øst AS and Romerike Energi AS. Together Viken Energinett and Østnett have around 475.000 customers connected to their grids.
The acquisition of the equity stake in Tindra by Hafslund and the control of Østnett gained by Viken Energinett, together with the previously announced merger between Hafslund and Viken Energinett, in which Hafslund today has an ownership of 33%, and the planned acquisition of Oslo Energi AS are central to the expansion strategy of Hafslund within the energy sector.
A final conclusion regarding these transactions is expected this fall.
The agreement regarding the acquisition of shares in Tindra by Hafslund and the agreement for Viken Energinett to buy the equity stake in Østnett from Akershus Energi are conditioned by necessary approvals from the boards of the respective companies and Akershus county.