Torghatten ASA (OTCNO:TORG) agreed to acquire 59% stake in Fjord1 AS from Sogn Og Fjordane Fylkeskommune on November 23, 2015. For 2014, Fjord1 AS reported revenues of NOK 2.3 billion. On November 26, 2015, the deal has been approved by the board of Sogn Og Fjordane Fylkeskommune. On July 14, 2016, the Norwegian Competition Authority (Konkurransetilsynet) has denied the request for the transaction. Torghatten ASA (OTCNO:TORG) cancelled the acquisition of 59% stake in Fjord1 AS from Sogn Og Fjordane Fylkeskommune on January 14, 2017.