projects dno, consolidation tangle

We have cracked several legal nuts for DNO. This one was especially interesting

The main question was whether DNO and Sector Asset Mangement AS (”Sector”) was co-operating in connection with a request made by DNO to change the board of Detnor. Sector and DNO combined had more than 33 % of the votes in Detnor and could risk consolidation and be subject to a mandatory offer. Christian Ditlev-Simonsen assisted DNO, and the main issues was who should open and lead the general meeting, and whether DNO and Sector had an agreement which constituted an ”obligation to co-operate”, in which case a mandatory offer could apply. DNO was successful in having their candidate lead the general meeting, and based on the written documentation made by vogtwiig in relation to a possible mandatory offer, the general meeting concluded that there was no grounds for consolidation.