HitecVision bids for Grenland Group
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.
On the 8th of December, 2009, HVS Invest AS completed the acquisition of 20,041,280 shares in Grenland Group ASA, corresponding to 75.2 percent of the outstanding shares in the company. The mandatory offer for the remaining shares in the company will be launched on the 14th of December 14th with an offer period untilthe 11th of January, 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.
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| Fund | HitecVision V LP Argentum share 10.72% |
| Portfolio Company | Grenland Group |
| Date of Transaction | 2009-12-08 |
| Transaction | Acquisition |
| Seller | |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Energy |
| Geography | Norway |
| Stage | Small/mid-cap buyout |