Orkla sells its hydro power portfolio
Orkla has entered into agreements to sell its entire hydro power portfolio in two separate transactions. The transactions value the portfolio at NOK 6.1 billion on a cash and debt-free basis.The hydro power portfolio is held through 100% ownership of three separate holding companies: Sarpsfoss Limited, Orkla Energi AS (85% owner of AS Saudefaldene), and Trælandsfos Holding AS. Hafslund AS (90%) and Svartisen Holding AS (10%) acquire Sarpsfoss Limited. The underlying assets consist of run-of-the-river hydro power production in Sarpefossen and Mossefossen, with a combined average annual