The Norwegian Competition Authority has today approved Oslo Bolig- og Sparelags' (OBOS) acquisition of 494 488 026 shares in Fornebu Utvikling ASA (FBU) from Orkla, QVT, Canica og Macama at a price of NOK 2.45 per share. Consequently, OBOS owns a total of 767 014 345 shares in FBU, corresponding to 92.4 % of the shares.
The completion of the acquisition obliges OBOS, in
accordance with the applicable law, to give a mandatory
offer to all shareholders. OBOS has today confirmed that
the offer will be made.
In accordance with the statutory requirements, the company
will provide a statement to the shareholders about the
offer. The opinion will be presented as early as possible,
and no later than one week prior to the expiration of the
offer period for the mandatory offer. The Board of
Directors in FBU has engaged DNB Markets as its financial
advisor and Advokatfirmaet Thommessen as its legal
advisor.
OBOS has additionally decided to execute a compulsory
acquisition of the remaining shares in FBU, which the
ownership over 90 % enables them.
For further information, please contact:
CEO Morten Grongstad, tel.: +47 99 15 39 05
CFO Gisle Glück Evensen, tel: +47 91 80 05 66
About Fornebu Utvikling ASA:
Fornebu Utvikling (FBU) is a Norwegian real estate company
listed on the Oslo Stock Exchange. The Group develops and
sells attractive housings of high quality. Currently,
the Group has development projects at Fornebu outside Oslo
(Norway) and in Odense (Denmark).
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.