Attendance high at Agri Capital Markets Day
(Dec. 3, 2003) The planned demerger and stock exchange listing of Hydro's Agri business has generated much interest among the financial community and investors. In Oslo on Wednesday, Agri arranged its own Capital Markets Day when top managers presented the demerger plan and strategic aspects in connection with the operation of the global fertilizer business.
 AGRI CEO: Thorleif Enger (Photo: Terje S. Knudsen) |
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Attendance was high at Agri's Capital Markets Day held in Oslo on Wednesday. Similar events will be staged over the next two days for the financial community and investors in London and New York.
Both Hydro president and CEO Eivind Reiten and Agri chief executive officer Thorleif Enger stated that the new company will strive to be a key global player in the world's fertilizer industry. The company's concentration will be on cost management and productivity, as well as market leadership, a balanced product portfolio and a strengthened performance culture.
The board of directors of Norsk Hydro ASA resolved on 28 November to recommend a demerger of the group's fertilizer business to Hydro's shareholders. When the demerger has been carried out, each shareholder will obtain one share in the new stock exchange listed company for every Hydro share held. The new company’s shares to be distributed to Hydro’s shareholders will constitute 80 percent of the total number of shares outstanding upon completion of the demerger. Hydro will hold the remaining 20 percent of the shares, which Hydro plans to sell in an offering at the time of the demerger, subject to market conditions.
The demerger must be approved by Hydro's extraordinary general meeting to be held on 15 January 2004 in Oslo. The Oslo Stock Exchange listing is planned for 25 March 2004.
Supplementary information about Agri's business operations, and the transaction model chosen for the separation from Hydro, can be found in an extensive information memorandum published on 1 December.
The links below can be used to access material presented on Agri's Capital Markets Day, as well as the information memorandum and previously published news articles.
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