The combined ownership is made to secure competence throughout the value chain of production and distribution of power, and in order to be well positioned for the expected changes in the energy industry going forward. The combined group will target a key position in the expected consolidation in the industry.
The boards of Hafslund AS and E-CO Energi Holding AS have actively participated in developing the City government?s decision base. The City of Oslo will appoint a board for the new company. Finn Bjørn Ruyter in Hafslund is intended the role as CEO of the combined business.
Hafslund AS and E-CO Energi Holding AS with subsidiaries will continue their business as of today. All financing and debt will be maintained in the respective companies. The combining of ownership will not affect financial ratios for Hafslund AS and E-CO Energi Holding AS.
The combined ownership is subject to approval by the City Council of Oslo and necessary approvals from regulatory authorities. The combined ownership is expected to be completed in second quarter 2018.
The City of Oslo has published on its web pages a notice with information about the proposed combined ownership. The information is in Norwegian only and is available at: https://www.oslo.kommune.no/politikk-og-administrasjon/politikk/byradet/for-pressen/pressemeldinger/
|Tore Olaf Rimmereid||President and CEO||+47 909 92515|
|Morten J. Hansen||Acting CFO||+47 908 28577|
|Kjell Arne Hansen||Treasurer||+47 950 40 372|