Hafslund (company)

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Hafslund AS
Aksjeselskap
Traded as (OSE: HNA)
Industry Power
Headquarters Oslo, Norway
Area served
Norway
Key people
Finn Bjørn Ruyter Managing director
Website www.hafslund.no

Hafslund ASA was listed on Oslo Børs (Oslo Stock Exchange) until August 4, 2017, and was one of the largest listed power companies in the Nordic region. Oslo municipality, with a stake of 53.73 percent, was the largest owner when the company was taken out of stock exchange.

The two largest shareholders in Hafslund ASA – Oslo Municipality and Fortum – entered into an agreement in the spring of 2017 to acquire Hafslund, with a subsequent restructuring of the Group. Oslo Municipality and Fortum conducted several transactions, and from 4 August 2017 the ownership in Hafslund is as follows:

  • The municipality of Oslo owns 100 percent of the new company Hafslund AS.
  • Hafslund Nett (Network) is 100 percent owned by Hafslund AS.
  • Hafslund Market is 100 percent owned by Fortum.
  • Hafslund Produksjon (Hydropower) is owned 90 per cent of the Oslo municipality's power company E-CO Energi and 10 per cent of Fortum.
  • Hafslund Varme (District Heating) and Klemetsrudanlegget (Waste-to-Energy) have been merged, and the new company Fortum Oslo Varme is owned by the Oslo municipality (50 percent) and Fortum (50 percent).

History[edit]

The Hafslund corporation was founded in 1898, and in 1899 it bought the Hafslund Manor, which had the rights to the Sarp Falls in Glomma. In 1986 the group bought Actinor with its subsidiary Nycomed creating the new company Hafslund Nycomed. In 1996 the company was demerged with Nycomed focusing on pharmacy and Hafslund on energy.

In 2001 Hafslund entered the security sector by buying a number of alarm- and security companies. The same year the power company Oslo Energi was bought, as was Tindra Energi a year later, the two creating Hafslund Strøm in 2003. Hafslund and Viken Energinett, that operated the power grid in Oslo, were merged in 2002. In 2007 Hafslund also bought Viken Fjernvarme that operated the district heating in Oslo.

In 2008 Hafslund sold the security operations and divested its business areas of building and operation of infrastructure into Infratek. In 2013 Hafslund sold the shares in Infratek.