NNIT sale of infrastructure ops cheers investors
22/06/2022 08:34
** Shares in Denmark's NNIT NNIT.CO surge 25% and are on
track for their best day since listing as the IT consulting
company divests its infrastructure operations urn:newsml:reuters.com:*:nFWN2Y80R3
** The company said it would sell its Hybrid Cloud
Solutions unit as well as select parts of its Cloud & Digital
Solutions unit to funds advised by Agilitas Private Equity
** Purchase price for divested operations amounts to DKK
1,500 million ($211.53 million)
** The company, which has lost more than half of its value
since its first day of trading in 2014, is, according to Nordnet
analyst Per Hansen, "only a shadow of itself" today
** Hansen notes NNIT will lose Novo Nordisk as a client as a
result of the sale, adding, however, the cooperation has also
become a bit of a challenge with revenue from Novo Nordisk
declining in the past five years
($1 = 7.0913 Danish crowns)
(Reporting by Marie Mannes)
((Marie.mannes@thomsonreuters.com))