– A wise choice – E24

– A wise choice – E24

Bjørn Kjos is interested in Widerøe being bought by Norway.

With Bjørn Kjos and CEO of Norway, Geir Karlsen.
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On Thursday morning, Norway announced they wanted to buy Widerøe.

– I think this is a wise choice. Norwegian founder Bjørn Kjos tells E24 that Widerøe is a great company and complements Norway in many ways.

– Then how do you think?

– We cover Norway, all of Norway. Outside and inside.

– Are you involved in acquisitions in any way?

– In no other way than that, of course I discuss all such strategies with Keir.

Kjos refers to Norway’s CEO, Geir Karlsen.

Bjørn Kjos was CEO of Norway for 17 years from 2002 to 2019. He took Norwegian from a small Norwegian airline to a large group flying nationally and internationally.

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Kjos says he sees no reason why the Norwegian Competition Authority should stop the acquisition:

– SAS owned it before, why Norwegian shouldn’t own it now, he asks rhetorically.

Buys Widerøe for 1.1 billion

The companies will still be run separately, and employees will be employed by Widerøe and Norwegian, respectively, the statement said.

The value of the Norwegian company is estimated at NOK 2 billion, but the purchase price is set at NOK 1.125 billion.

The Norwegian writes that the final price depends on certain conditions, including an adjustment to Widerøe’s profitability in 2023. A stock market announcement.

– Widerøe CEO Stein Nilsen says that Norway’s extremely high level of tax combined with fierce international competition makes it difficult for a small, regional airline to manage without a strong partner.

The Norwegian Competition Authority is evaluating the case

– This is a matter to be reported to the Norwegian Competition Authority. It cannot be implemented until we approve it, which will be dealt with in the usual way, Gjermund Nese, director of the Department at the Competition Commission, told E24.

– How long does such treatment last?

– It could easily last until Christmas, especially if we have concerns about the competition. Approval can happen at any time, but if we see fit to stop it, processing will last until Christmas.

Joshi Akinjide

Joshi Akinjide

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