MERGE OF HAFSLUND AND ELKEMs ENERGY ACTIVITIES
Hafslund ASA has, after the merger, a total generation capacity of 6.5 TWh. Hafslund ASA has, as a part of the agreement, an option to pay NOK 500 million to the existing Hafslund shareholders as a dividend, and at the same time increase Elkems total shareholding in Hafslund to 48%. The expected synergies are NOK 50 million yearly.
Oslo, 23 December 1999