Brief: Eqva To Acquire All Shares Of Kvinnherad Elektro

Eqva ASA

14/05/2024 12:46

May 14 (Reuters) - Eqva ASA  EQVA.OL :
    * EQVA AND KVINNHERAD ELEKTRO SIGN BUSINESS COMBINATION
AGREEMENT
    * AGREEMENT INCLUDES KVINNHERAD ELEKTRO'S 51 PERCENT
OWNERSHIP IN
VASSNES SOLUTIONS AS
    * EQVA WILL ACQUIRE ALL SHARES OF KVINNHERAD ELEKTRO AS IN
EXCHANGE FOR SHARES IN A WHOLLY OWNED SUBSIDIARY, ALONG WITH A
CASH COMPONENT
    * MERGER WILL RESULT IN AN INCREASED TURNOVER FOR EQVA OF
BETWEEN
NOK 160-175 MILLION ON AN ANNUAL BASIS
    * SUBSIDIARY OF EQVA WILL BE LISTED ON OSLO STOCK EXCHANGE
IN NEXT
12-18 MONTHS
    * BUSINESS COMBINATION AGREEMENT IS SET TO BE COMPLETED
DURING Q2
2024
    * WE WILL BE ABLE TO LEVERAGE SYNERGIES BETWEEN COMPANIES
INVOLVED

Source text for Eikon:  ID:nObikJkLBa 
Further company coverage:  EQVA.OL 

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