Norway sells off remaining stake in Norwegian Air
Norway's government today said it had sold its remaining shares in Norwegian Air for 892 million crowns (€77.26m), divesting a stake stemming from the airline's pandemic-era restructuring.
The Norwegian state, represented by Norway's ministry of trade, industry and fisheries said in a statement that it had sold its remaining 65.58 million shares, a 6.26% stake, at a price of 13.60 crowns each.
The transaction was made at a 3.3% discount to yesterday's closing share price on the Oslo Bourse.
"The state has been clear from day one that we do not want to be a long-term player in Norwegian," Trade and Industry Minister Cecilie Myrseth said.
The government in May of 2021 issued a convertible loan to the carrier of 1.21 billion crowns as the airline was undergoing reconstruction.
The government still holds bonds in Norwegian that are due for repayment later this year and in 2026.
Through its transactions, the state has made a profit of more than 500 million Norwegian crowns, the government said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Irish Post
18-06-2025
- Irish Post
The cost of Ireland's data centre boom
DATA centres now use more energy than all the urban homes in the country combined. Ireland is grappling with an energy problem as businesses like Amazon, Google, Meta and Microsoft grow to meet the increasing demands of cloud computing and artificial intelligence. The International Energy Agency reported that 21% of Ireland's electricity consumption in 2023 came from data centres. The proportion was so great that Ireland's grid operator decided to stop new data centre connections in the Dublin area until 2028 due to concerns about blackouts. The majority of the data centres are now grouped together in the outer Dublin area to provide quick access to underwater cables and financial networks. Opposition to new centres has been fuelled in part by local activists, such as Darragh Adelaide. Adelaide, who was just elected to the South Dublin County Council, spearheaded an effective campaign opposing a proposal for a Google data centre, claiming it would use a lot of energy and provide few local benefits. He said in a statement to AP, "It was only going to employ about 50 people." "The local community and Ireland as a whole would have suffered greatly as a result." In the meantime, people in the area must contend with some of Europe's highest electricity costs. Concerns about the environment are also growing; Ireland's EPA has issued a warning regarding nitrogen oxide pollution from diesel generators, which are frequently used as backup power in data centres. In 2021, the government reacted by advising developers to locate outside of Dublin and produce their own renewable energy. Even centres with renewable contracts, such as the ones constructed by the US company Digital Realty, are still offline and unable to connect to the grid, which is already overloaded. As their next frontier, developers are now focusing on areas like County Offaly, which was once known for its industrial peat extraction. Once a key player in Ireland's peat industry, the state-owned Bord na Móna is shifting its focus to renewable energy and working with Amazon on a new data centre near the village of Rhode. KK Kenny, who is against a proposed wind farm close to the historic Lemanaghan monastic site, voiced his opposition online and said, "We can't sustain them." Builder Gerard Whelan is among those who embrace the possible economic knock-on effect: "Because I build houses, I'll get a job. It has a cascading effect.' IT firms contend that Ireland's transition to renewable energy is actually helped by data centres. With the help of a Microsoft contract, the Norwegian company Statkraft is constructing nine wind turbines on former bogland. "In Ireland, demand is increasing," Kevin O'Donovan, director of Statkraft Ireland, said in a recent statement on their website, "that's accelerating the renewables rollout." According to departing Green Party minister Ossian Smyth, Ireland's experience teaches that other nations shouldn't view data centres as inevitable trade-offs for investment. He advised against viewing them as a necessary evil. "Verify that the benefits extend beyond taxes." Ireland's data centres come at a cost to the community, with the highest net electricity prices in the EU, but in the current tech boom, demand is only increasing. Google's data centre on the outskirts of Dublin (Image © Google / Google Data Centers media kit)
The Irish Sun
12-06-2025
- The Irish Sun
Drogheda United going to Court of Arbitration for Sport in bid to salvage European football as club blast ‘unfair' UEFA
DROGHEDA UNITED are going to the Court of Arbitration for Sport in a bid to play European football this season. 2 Kevin Doherty's side have gone from strength to strength this season 2 The Louth outfit secured European football by beating Derry City in the FAI Cup final Uefa rules do not allow clubs with the same owner to compete in the same competition for sporting integrity reasons. The Trivela Group bought Drogheda before the start of last season and, since then, took a 80 percent stake in the Norwegian outfit. Similar situations have arisen in the past with the ownership of one club transferred to a third party in order to get around it. But, for now, despite its efforts to reach a compromise with Uefa's Club FInancial Control Body, the Boynesiders face missing out on the reward for Read More On Irish Football A Drogheda statement said: 'The club can confirm that it has been notified by UEFA that we are facing expulsion from the UEFA Conference League due to Drogheda United and Silkeborg IF having both qualified for the same competition. 'This is despite significant efforts by the club to work constructively with UEFA to make necessary ownership and governance changes to allow both to compete over the past several months. 'We are devastated by this potential development and believe it would be both harsh and unfair, given the way brand new rule changes this year have been, in our view, inconsistently communicated and enforced across various clubs. 'We are now appealing the decision to the Court of Arbitration for Sport (CAS). Most read in Football "Given we are now in the midst of an ongoing legal proceeding, and out of respect for that process, UEFA, the CFCB, and the overall aim of sporting integrity, there are limits to what we are able to share at this time. 'What we can say is this: we are—even at this late hour—fighting to do anything and everything we can to secure our players', supporters', and community's place in Europe. Man Utd announce Matheus Cunha in huge £62.5m transfer 'We have been in active dialogue with UEFA for months and have put forward a share disposition, trust arrangements, and various other undertakings consistent with recent CFCB precedent, only to have all of those efforts rebuffed. 'Nevertheless, we look forward to the opportunity to be heard at CAS and thank you in advance for your support. ' Drogheda last competed in Europe in 2013 and qualified against the odds by defeating favourites They currently lie second in the table, six points behind leaders
Business Post
06-06-2025
- Business Post
UK house prices ‘fell 0.4%' in May
German exports fell by 1.7 per cent month-on-month in April, after a 1.1 per cent... British Gas owner, Centrica, has signed a ten year deal with Norwegian gas supplier... a Microsoft-backed start-up which filed for bankruptcy on Monday, owes... UK mortgage lender Halifax have said that average house prices fell by 0.4 per cent... Circle Internet Group had one of the splashiest debuts in years, with shares surging... US job growth likely slowed considerably in May as businesses struggled with headwinds... Salesforce has announced that its board of directors declared a quarterly cash dividend...
