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Oslo City Council approves Hafslund ownership restructuring

The Oslo City Council (Bystyret) has approved the ownership restructuring of Hafslund ASA between the City of Oslo and Fortum.

In April, Finland-headed energy major Fortum Oy and the City of Oslo, Norway entered into an agreement to restructure their ownership in Hafslund ASA, one of the largest listed power groups in the Nordic region. Hafslund is a pure-play energy and infrastructure company with a leading position as Norway’s largest networks, district heating, and power sales company, and is a medium-sized power producer.

According to a statement, the transactions received approval from the Norwegian, Swedish and Finnish competition authorities in May and June. The transactions are still subject to one regulatory approval in Norway and the fulfilment of the customary closing conditions. The closing of the transactions is expected during the third quarter of 2017.

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