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Kosmos Goes Private

A new twist has emerged in the tortuous saga of the Kosmos Holdings, following complex maneuvers over the past two years. The company will soon be de-listed from the Oslo Stock Exchange, and revert to private status, following a decision by the management of A/S Eikland to buy out the minority shareholders. Eikland, which currently owns 84.6% of the equity, will buy the remaining shares for Kr60. In a process of corporate mytosis during 1989/90, the main constituent parts of the group were either sold off or merged with other companies. For example, Kosmos Shipping joined forces with Laboremus to form IM Skaugen, now a quoted company, while the pulp and paper business, operating as Norskeskog, was sold off.

The de-coupling and subsequent mergers left Kosmos primarily as an investment company, with a 10% shareholding in Aker and a 9% holding in Norskeskog. As a private concern, Kosmos will continue to act mainly in an investment capacity. Eikland is also now an investment company, and controls a 46% stake in the recently constituted IM Skaugen.

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Written by: | Categories: Marine Money | April 1st, 1991 |

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