Brief: Akva Group Says Entered Into Agreement To Combine AKVA Marine Services As With Abyss Group

Akva ASA

25/08/2021 21:13

Aug 25 (Reuters) - Akva Group ASA  AKVA.OL :
    * ENTERED INTO AGREEMENT TO COMBINE AKVA MARINE SERVICES AS
WITH
ABYSS GROUP
    * FOLLOWING COMBINATION, AKVA WILL OWN 25.5% IN COMBINED
COMPANY
    * AKVA WILL BECOME SHAREHOLDER IN COMBINED COMPANY
    * AS PART OF TRANSACTION, FUNDS ADVISED BY ICON CAPITAL AS
WILL BE
INVESTED IN COMBINED COMPANY TO ALLOW FURTHER GROWTH
    * AKVA GROUP-INITIAL INVESTMENT BY ICON WILL BE NOK 100
MILLION
WITH FURTHER GROWTH CAPITAL BEING AVAILABLE TO BOARD OF ABYSS
SUBJECT TO CERTAIN CONDITIONS
    * KNUT NESSE WILL REPRESENT AKVA ON BOARD OF COMBINED
COMPANY
FOLLOWING TRANSACTION
    * AKVA WILL STILL OWN 100% OF SPERRE AS, A LEADING SUPPLIER
OF NET
CLEANING SYSTEMS TO AQUACULTURE INDUSTRY

Source text for Eikon:  ID:nGNE9dt275 
Further company coverage:  AKVA.OL 

 ((Reuters.Briefs@thomsonreuters.com;))