ITOCHU Corporation (TSE:8001) and Osaka Gas Co., Ltd. (TSE:9532) agreed to acquire 13.56% stake in Everfuel A/S (OB:EFUEL) from Nel ASA (OB:NEL) for NOK 120 million on December 12, 2023. As part of acquisition, Osaka and ITOHCU will acquire 11,698,918 shares for NOK 9.97 per share. Post completion of the acquisition, Nel ASA will no longer own any equity listed instruments in Everfuel A/S. The transaction is subject to regulatory approvals. Carnegie AS acted as financial advisor to Nel ASA.

ITOCHU Corporation (TSE:8001) and Osaka Gas Co., Ltd. (TSE:9532) completed the acquisition of 13.56% stake in Everfuel A/S (OB:EFUEL) from Nel ASA (OB:NEL) on December 12, 2023.