AS Fiskevegn is calling for a reversal of Mustad Autoline’s purchase of Vetrhus Holding AS, which own 50% of the shares in AS Fiskevegn, claiming it is “not suitable” for one of its main competitors to be its owner.
Mustad Autoline AS has taken over all the shares in Vetrhus Holding AS (now Mustad Sealine AS) but A.S Fiskevegn’s board has decided, based on the company's statutes, that it cannot consent to Mustad Autoline's acquisition of shares in Vetrhus Holding as this in fact must be treated as an acquisition of shares in AS Fiskevegn.
The company stated: “AS Fiskevegn has thus demanded that immediate action be taken to reverse the purchase.”
It added the ownership “raises many legal dilemmas, and it would be very challenging to realize any significant business synergies within the strict confines of applicable competition laws.”
“The board, management and employees of Fiskevegn AS therefore assume that Fiskevegn AS and Mustad Autoline AS are as of today and will in the future remain independent companies and competitors,” AS Fiskevegn stressed.
