Brief: AKVA Group Divests Wise Lausnir Ehf

Akva ASA

25/09/2019 12:15

Sept 25 (Reuters) - Akva Group ASA  AKVA.OL :
    * REG-AKVA GROUP ASA: DIVESTMENT OF WISE LAUSNIR EHF
    * AKVA GROUP - TODAY SIGNED SHARE SALE AND PURCHASE
AGREEMENT AND
COMPLETED TRANSACTION OF DIVESTING WHOLLY-OWNED UNIT WISE
LAUSNIR EHF
    * TOTAL CONSIDERATION SETTLED BY CASH PAYMENT BY CENTARA TO
AKVA
ON 25 SEPTEMBER 2019 IS ICELANDIC KRONA (ISK) 910,778,164
    * IN ADDITION, AKVA WILL RECEIVE A DIVIDEND, APPROVED BEFORE
TRANSACTION, OF ISK 197,000,000, AS SOON AS WISE HAS RECEIVED
CERTAIN CONFIRMATIONS FROM ICELANDIC TAX AUTHORITIES
    * TRANSACTION RESULTS IN AN ACCOUNTING GAIN FOR AKVA OF NOK
21,283,000 EXCLUDING TRANSACTION COSTS
    * THUS, TOTAL PROCEEDS FROM TRANSACTION IS ISK 1,107,778,164
(EQUIVALENT TO APPROXIMATELY NOK 80,092,361 BASED ON NORGES
BANK'S EXCHANGE RATE AS OF 24 SEPTEMBER 2019)

Source text for Eikon:  ID:nGNE2qGrvg 
Further company coverage:  AKVA.OL 

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