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DNV, a global provider of risk management services with a focus on energy, and GL Group, a provider of classification, verification and engineering consulting services to the renewable energy industry and other industries, have entered into a merger agreement.

The new entity, to be called DNV GL Group, is expected to be one of the largest risk assessment providers and advisory firms for the renewable energy industry.

"The merger rests on a strong strategic rationale, and responds to challenges of increased globalization, rapid technological change and the need for sustainable development," says DNV's Group CEO Henrik O. Madsen, who will be the CEO of the combined new company.

The DNV Foundation will hold 63.5% of combined company shares, while GL's owner Mayfair SE will hold 36.5% of shares. The new company will be headquartered and registered in Norway.



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