The Norwegian takeover rules correspond to a large extent to the rules within the EU. Notwithstanding this, there is some local variation within the EU and EEA. Further, there are always some cultural differences as well as differences in market practice. Below is an outline of certain key topics in a typical process of acquiring a company listed on the Oslo Stock Exchange.
Steenstrup News is a blog by Norwegian law firm Steenstrup Stordrange. It provides insight into topical business and legal issues relevant to Norwegian business life. Aimed at management and legal professionals internationally, the posts include opinions on legal issues, updates on legal developments, as well as industry and market-specific insights and discussions.
Hot news: Norwegian implementation of AIFMD approaching – Managers may begin applying for authorisations
The proposed AIFM Act passed the first reading in the Norwegian Parliament 3 June, and is scheduled for a second and final reading in the Parliament shortly. The Ministry of Finance stated yesterday that the Act will almost certainly come into force 1 July 2014.
Effective from 1 July 2014, the Financial Supervisory Authority of Norway (FSAN) will increase the fees for approval of prospectuses with 20 percent. The increase will apply to all types of prospectuses and also encompass the additional fee for so called specialist issuers.
On 9 May 2014, the Ministry of Finance proposed a bill requiring gender-neutral pricing in insurance contracts which are private, voluntary and separate from employment relationship.
On 9 May 2014, the Ministry of Finance proposed new legislation regarding credit rating agencies. The background for the proposal is Regulation No 1060/2009 (CRA I) of the European Parliament, which has been incorporated into the EEA Agreement.
A glance at the “Norwegian” HY market is and why it’s such an efficient platform for raising flexible debt for foreign companies
Since early 2000, the Norwegian corporate bond market has been transformed from a small market dominated by domestic utility enterprises into a global market characterized by large issue volumes of high yield corporate bonds. This makes Oslo Stock Exchange and Nordic Alternative Bond Market the third largest market place for HY corporate bonds in the world.
A Bill to implement the AIFMD in Norway (the “AIFM Act”) was suggested in Mid-April, and will likely come in force 1 July 2014.
This newsletter gives a brief summary of the proposed AIFM Act, with a particular view on non-Norwegian Alternative Investment Fund Managers’ (“AIFMs”) possibility to market Alternative Investment Funds (“AIFs”) in Norway.
Norway is a member of the European Economic Area (“EEA”), which currently comprises Norway, Iceland and Liechtenstein and 27 Member States of the European Union excluding Croatia.
Norway has for some time fairly consistently attracted foreign investments. Below we provide a brief overview of Norway and Norwegian industry as investment targets, including some process and negotiation issues.