Norsk Hydro and Statoil Merger Announced

The merger between Norwegian energy company Norsk Hydro ASA's oil and gas division with Statoil ASA to form StatoilHydro ASA is expected to be completed by 1 October .

Hydro share traders will have the right to receive shares in StatoilHydro from 1 October, the day the merged company is expected to start trading on the Oslo Stock Exchange.

Norwegian Central Securities is expected to distribute the StatoilHydro shares to Hydro's shareholders on 3 October this year.

By staff writer