Norway approves mandatory Edda Wind share acquisition

Geveran Trading, Wilhelmsen New Energy and EPS Ventures have launched a previously announced mandatory offer and compulsory acquisition to acquire all outstanding shares in Edda Wind.

The Norwegian Financial Supervisory Authority (Finanstilsynet), in its capacity as take-over supervisory authority in Norway, approved the offer document this week for the mandatory offer pursuant to section 6-14 of the Norwegian Securities Trading Act.

The offer price was NOK23.00 ($2.26) in cash per Edda Wind share. As Electric, the company jointly owned by Geveran, Wilhelmsen and EPS, held more than 90 per cent of the shares and votes of the company, it was able to resolve a compulsory acquisition of the remaining Edda Wind shares not already held by it.

The acquisition of the remaining shares in Edda Wind has already taken effect, and Electric is thus now the owner of 100 per cent of the shares of Edda Wind.