Norwegian Air Shuttle ASA (OB:NAS) entered into a transaction agreement to acquire Widerøe AS from WF Holding AS for approximately NOK 1.13 billion on July 6, 2023. Norwegian will finance the cash consideration of NOK 1,125 million through available funds. The purchase price is subject to certain adjustments after closing, including in respect to the profitability of Widerøe in 2023. Widerøe?s debt facilities are intended to remain in place following the transaction. In 2022, Widerøe reported group revenues of NOK 5.7 billion and EBIT of NOK 80 million. Both companies will continue to operate under their separate brands, and Widerøe will be organised as a separate business unit to Norwegian, independent from Norwegian´s core low-cost carrier operation. Employees will remain in existing companies under existing collective agreements. Closing of the transaction is subject to certain closing conditions, including regulatory review process from the Norwegian Competition Authorities and is expected by the end of the fourth quarter of 2023. As on December 21, 2023, the Norwegian Competition Authority approved the acquisition. ABG Sundal Collier has acted as financial advisor and BAHR has acted as legal advisor to Norwegian in connection with the transaction. As of September 15, 2023. Norwegian competition Authority has said temporary no to purchase the Widerøe AS. The supervisory authority is asking for two months to assess the acquisition.

Norwegian Air Shuttle ASA (OB:NAS) acquired Widerøe AS from WF Holding AS on January 12, 2024.