Norway

European plug-in car registrations jump 237% year-over-year in Q2 2021

European plug-in car registrations jump 237% year-over-year in Q2 2021

The number of electric passenger car registrations in Europe jumped more than 230 per cent year-over-year in the second quarter of 2021, thanks to customers’ transition from internal combustion eng

Mariner oil project expected to generate hundreds of jobs & huge tax revenues

Norwegian giant Statoil's £4.6 billion project in the Mariner heavy oil field in North Sea is expected is expected to provide a big boost to the UK's economy by generating several hundred new jobs and hundreds of millions of pounds in tax revenues.

The project, which recently received green signal from the UK government, is the country's largest offshore oil project in more than ten years.

According to Energy Secretary Ed Davey, the project in the Mariner heavy oil field east of Shetland was a "vote of confidence" in the UK's oil & gas industry.

Terra to Be Purchased by Yara for $4.1 billion

One of the world's largest fertilizers producers, Norway's Yara International, has agreed to buy Terra Industries for $4.1 billion, in a bid to boost its presence in the United States.

The Norwegian government owns 36.2 percent of Yara. Cravath, Swaine & Moore LLP and Wachtell, Lipton, Rosen & Katz are its legal counsel.

Yara's values Terra at $41.1 per share and represents a premium of 23.6%

Norway's national insurance fund Folketrygdfondet, having 6.57% in Yara, has agreed to subscribe its pro rata share of the issue.

Cisco to waive condition of 90% in Tandberg Deal

Cisco Systems Inc has decided to waive condition that 90 per cent of shareholders of Norway's Tandberg ASA support its takeover offer as only 89 per cent of shareholders backed the $3.4 billion deal.

Previous month, Cisco extended its offer deadline along with sweetening its offer by 10 per cent after its original bid got turned down by more than 90 per cent of videoconferencing firm Tandberg's shareholders.

Speaking on the issue, spokeswoman for Cisco Kristin Carvell said, "We intend on pursuing all options available to us."

Norway’s Tandberg to be acquired by Cisco for $2.96 Billion

San Jose, California based Cisco Systems Inc., the world's largest maker of networking equipment, accepted to purchase Tandberg ASA for 17.2 billion kroner ($2.96 billion), with the aim of expanding its lineup of video-conferencing products.

As per Lysaker, Norway-based Tandberg, a sum of 153.50 kroner a share in cash would be paid by Cisco. The sum is 11 percent more than Tandberg's closing price yesterday in Oslo trading.

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