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Statkraft As Divests Ownership in Bergenshalvoens Kommunale Kraftselskap AS


Thursday, 24 Jan 2013 11:01pm EST 

Statkraft As announced that Bergenshalvoens 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 substantial assets. On January 25, 2103, 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 be a shareholder in BKK. BKK is currently owned by Statkraft with 49.9%, Bergen municipality with 37.75% and 16 other rural municipalities with the remaining 12.35%. 

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