Wiersholm assisted Orkla ASA/Elkem ASA

Wiersholm assisted Orkla ASA / Elkem ASA in connection with the sale of Elkem Energi Siso AS, Elkem Energi Lakshola AS and Elkem Energi Bremanger AS.

Orkla-owned Elkem is selling off its hydraulic power businesses in Salten and Bremanger at the price of approx. NOK 6 billion. The shares in Elkem Energi Siso AS and Elkem Energi Lakshola AS (the power plants in Salten) are being acquired by Norsk Vannkraftproduksjon AS, which 50 % owned by Nord-Trøndelag Energiverk Energi AS and 50 % owned by Østfold Energi AS. The shares in Elkem Energi Bremanger AS are being acquired by Salten Kraft Holding AS, which is 56 % owned by Sogn og Fjordane Energi Produksjon AS, 34 % owned by Tafjord Kraftproduksjon AS and 10 % owned by Sognekraft AS.

The sales amount totals approx. NOK 6,000 million, of which approx. NOK 4,300 million is the amount for Salten and approx. NOK 1,700 million is the amount for Bremanger. Settlement will be performed when the necessary public approvals are in place.