The Center will buy companies for 90 billion – Aftenposten

The Center will buy companies for 90 billion – Aftenposten

The Center runs against the flow when it comes to state ownership. Party will use roughly 90 billion on major acquisitions in five of Norway’s largest companies.

Thursday exhaust Standing Committee on Business and Industry recommendation on Government ownership report. While all the other parties in the committee will maintain or reduce government ownership, the Center rather increase it.

The Center gets Labor with in the acquisition of one of the companies, but is setting standing alone with the rest.

In setting proposes Center to increase government holdings in large listed state companies as follows:

• In the technology Kongsberg from 50 percent to 68 percent.
• In large bank DNB from 34 percent to 49 percent.
• In aluminmiumsprodusenten Hydro from 34.3 percent to 49 percent. This ends Labor to.
• In Telenor from 54 percent to 68 percent.
• In the fertilizer producer Yara from 36.2 percent to 49 percent.

Overall price tag is 92 billion, barsert on the current share price.

Preparedness and security

Centre Party Geir Pollestad is the leader in nutrition committee. He divides acquisitions in Telenor and Kongsberg from the rest.

– Through purchasing more of Telenor we will have greater control with cellular and infrastructure for broadcasting. When the world becomes more complicated, it is important to have better control of the infrastructure, he said.

But he sees no need to own more of Telenor’s operations in Asia. Therefore he will share Telenor into two: “Telenor Nordic” and “Telenor rest of the world.”

He compares Kongsberg Gruppen with Statoil, where the state owns slightly above 60 percent. – Safety dictates that we should have greater state control in Kongberg Group, says Pollestad.

Shares in readiness

For Hydro, Yara and DNB he says that “it insofar has no purpose Owning more “. But he will have more state-owned shares in reserve to use shares as payment if any of the three companies will drive acquisitions or go alliances ermed others.

Then new shares used as payment without the State’s share drops under the control limit of 34 percent ownership. Pollestad heard on the companies want.

– The companies said to us in the hearing committee that they saw it as an advantage that the state slightly above the threshold of 34 percent. They will use shares as payment in strategic mergers, he said.

– How will you finance acquisitions?

– The state has the muscle to this if it wants it. State Firms Cermaq and Entra is sold, so there is room for this. It is a transfer of wealth that does not create additional pressure in the economy.

– What thoughts do you get around that you mostly do not get a result of Labor?

– It amazes me that some Labor will not be helping to increase its stake to keep state shares in readiness in case these companies will be included in strategic mergers. It comes to giving state enterprises maneuver, says Pollestad.

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Published: 29.jan. 2015 6:27 p.m.