The deal with the Oystein Stray Spetalen company will widen its investment options and see Saga retain its name.

Saga has advance commitments from shareholders holding more than two thirds of the outstanding shares and votes in both companies.

The shareholders of Strata will receive 0.64 Saga shares for each one they hold, at a price of NOK 2.20 per share.

Saga will issue 110.9m