Norway Bulletin - April 2023

We are pleased to bring you the Conyers Norway Bulletin for 2023, in which we highlight developments affecting Bermuda-based companies in the Norwegian market over the past year.

Compared with global markets, the Oslo exchanges remained resilient in 2022. Oslo Børs, for example, experienced only a one per cent fall in value during the year, largely due to strong performance in both shipping and oil and gas, which remain core sectors in Norway. The average fall in value of companies in other sectors was generally in line with global patterns.

As in many jurisdictions, fewer acquisitions happened in 2022 than had been expected in Norwegian sectors. M&A activity is predicted to be strong in 2023 as companies experience tighter access to credit and the anticipated takeovers of some Euronext Growth Oslo-listed companies will start to materialise.