Brief: North Energy unit with strategic position in Reach Subsea

North Energy ASA

12/01/2017 16:00

Jan 12 (Reuters) - North Energy ASA  NORTH.OL : 
    * North Energy Capital AS (NEC), a subsidiary of North Energy ASA, will through a series of 
transactions become the new major shareholder of Reach Subsea ASA  REACH.OL  controlling a 
strategic stake of about 30% 
    * NEC has reached an agreement with certain shareholders of Accello Partners I AS, current 
30% shareholder of Reach, to acquire their shares and shareholder loans 
    * Purchase consideration will be settled with 10.8 million Reach shares valued at 1.75 
Norwegian crowns 
 
Source text for Eikon:  ID:nGNEQzGvh  
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