Hafslund ASA's (HNA) wholly owned subsidiary, Tindra AS, has today made an agreement with Lofotkraft Produksjon AS to transfer Tindra`s ownership share of 49% in the energy retail company Kraftinor AS. The sale price is MNOK 53,9. The accounting profit is MNOK 22,4 which will be accounted for in 4. quarter 2002. In addition a loan of MNOK 17,4 will be repaid to Hafslund.

 

The transaction is dependent on approval from the boards in the companies within                 25 November 2002.

 

The sale of Kraftinor is a part of Hafslunds strategy to free up capital and to concentrate on core business.