Statoil and Hydro have today, 3 May 2007, received clearance from the European Commission for the announced merger between Norsk Hydro ASA's petroleum activities and Statoil ASA.
The European Commission has declared that the merger is compatible with the common market pursuant to Article 6(1)(b) of the EC Merger Regulation.
The clearance represents a major step forward for Statoil and Hydro in order to complete the planned merger.
Merger clearances are still in the process of being obtained in other jurisdictions as required by applicable laws.
Further information:
Press
Ola Morten Aanestad, vice president media relations, Statoil ASA, telephone
+47 480 80 212/51 99 13 77
Investor relations
Morten Sven Johannessen, special coordinator for investor relations: +47 90 93 41 48 (mobile).
Geir Bjørnstad, vice president, US investor relations
+1 203 978 6950