2013-01-25 05:01:54 -
(Bergen/Oslo 25 January 2013) Bergenshalvøens Kommunale Kraftselskap AS (BKK),
Statkraft AS, Haugaland Kraft AS, Sunnhordland Kraftlag AS and Sognekraft AS
have signed a letter of intent to make changes in the ownership structure of BKK
and power plants in Western Norway.
The parties will work to implement a transaction that will entail swapping
Today, a letter of intent was signed which forms the basis for commencing
negotiations on a transaction which will contribute to streamline ownership
structures and facilitate closer industrial cooperation between power companies
in Western Norway. The transaction will, if completed, entail that power
companies in Western Norway owned by local authorities and county authorities
will acquire shares in BKK and increase their ownership in hydropower production
in Western Norway. This will also entail that Statkraft ceases to
shareholder in BKK.
The parties emphasise that such a transaction will facilitate sound industrial
and financial development and growth for BKK, while ensuring public-sector
control and regional connection and management of BKK.
BKK is one of Norway's largest companies within generation, wholesale trading
and transport of electricity. BKK is currently owned by Statkraft with 49.9%,
Bergen municipality with 37.75% and 16 other rural municipalities with the
For more detailed information:
Tonny Nundal, Executive Vice President Communication. Tel.: +47 90 59 58 45
Knut Fjerdingstad, Press spokesperson. Tel.: +47 24 06 71 61 / +47 90 18 63 10
Magne Heimvik, CEO. Tel.: +47 97 55 60 65
Olav Linga, Managing Director. Tel.: +47 91 16 13 24
Terje Bakke Nævdal, Managing Director tel.: +47 91 18 10 56
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Statkraft via Thomson Reuters ONE