Evaluation of Corporate Structure of the Magnora Group
Magnora ASA has decided to evaluate its company structure in order to maximize value and to further cement the company's standing as a pure-play renewable energy developer.
As a part of this, the company will initiate a review of its group structure as a whole with the aim of streamlining its different business segments by way of an intra-group re-organization. This will include the company's legacy design business.
In connection with such a potential re-organization, and also in relation to expressed interest from potential acquirers and investors of the company and its renewable energy businesses, Magnora’s Board has hired Pareto Securities to assist management and the Board to explore opportunities to enhance shareholder value, including possible future capital markets and M&A activities and other corporate initiatives.
Contacts
- Erik Sneve, CEO, email: es at magnoraasa.com
- Torstein Sanness, Executive chairman, email: sanness at sf-nett.no
About Magnora ASA
Magnora ASA (OSE: MGN) invests in renewable energy development projects and companies. Magnora's portfolio of renewable companies consists of Helios Nordic Energy AB, Kustvind AB, Magnora Offshore Wind AS, Magnora Solar PV UK, Hafslund Magnora Sol AS, Magnora South Africa, and AGV. In addition, Magnora has legacy revenues from oil and gas companies using Magnora's legacy hull design and potential milestone payments from the sale of Evolar AB (sold to First Solar Inc). The company is listed on the main list on Oslo Stock Exchange under the ticker MGN.