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HitecVision closes investment in Grenland Group

On the 8th of December 2009, HVS Invest AS, which is jointly owned by HitecVision and Skogen Investering AS, completed its voluntary offer for the acquisition of shares in Grenland Group ASA (Oslo Stock Exchange - GGG). HVS Invest now controls 75,2% of the outstanding shares of the company.

As announced on the 12th of October 2009, HitecVision and Skogen Investering AS (through their jointly owned company HVS Invest AS), launched a voluntary offer for Grenland Group ASA (Oslo Stock Exchange: GGG).

On the 8th of December, 2009, HVS Invest AS completed the acquisition of 20,041,280 shares in Grenland Group ASA, following which HVS Invest controls 75,2% of the outstanding shares in the company. The mandatory offer for the remaining shares in the company will be launched on December 14th with an offer period until January 11th 2010.

An EGM in GGG has been called for December 17th where a new Board of Directors reflecting the new ownership structure will be elected.