Since 2012, Norwegian tax authorities have focused on the way Norwegian private equity firms have structured their carried interest payments.
From 12 January 2015, pre-commercial companies may apply for listing on Oslo Børs.
Five months have passed since the AIFMD was implemented in Norway. Since 1 July 2014, a relatively large number of applications have been filed with the Financial Supervisory Authority of Norway (the “FSAN”), concerning both marketing in Norway of non-EEA AIFs of EEA AIFMs and AIFs of non-EEA AIFMs.
In this article we set out certain key issues the board of a Norwegian listed company faces in a public takeover situation.
The Norwegian AIFM Act comes into force 1 July 2014 – No transitional rules for marketing of closed-ended funds
The Ministry of Finance confirmed everybody’s expectation yesterday when it announced that the Norwegian AIFM Act and the AIFM Regulation (implementing AIFMD and Commission Delegated Regulations supplementing AIFMD) comes into force 1 July 2014. As of and after 1 July 2014 the management and marketing of Alternative Investment Funds (“AIFs”) will thus be subject to the AIFM Act and the AIFM Regulations.
On 20 June, the Ministry of Trade, Industry and Fisheries presented a new white paper on direct ownership in state-owned enterprises, seeking for consent to reduce state ownership in several companies.
What legislation governs the establishment and operation of Alternative Investment Funds?
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.