Brief: Element Divests Whole Investment In CMT

Univid ASA

28/10/2019 08:48

Oct 28 (Reuters) - Element ASA  ELEM.OL :
    * SAID ON FRIDAY HAS ENTERED INTO AN AGREEMENT TO DIVEST THE
INDIRECT OWNERSHIP IN COMPAGNIE MINIÈRE DE TOUISSIT SA (CMT)
    * SELLS ITS 396 UNITS IN OSEAD FUND TO MANCO GROUPE OSEAD
S.A
(MANCO)
    * SALE OF UNITS MEANS THAT ELEMENT HAS NOW COMPLETELY
DIVESTED ITS
INVESTMENT IN CMT
    * DIVESTMENT WILL PROVIDE ELEMENT WITH ADDITIONAL EUR 1.3
MILLION
OF CAPITAL
    * TRANSACTION WILL IMPROVE CO'S Q4 2019 NET RESULT BY
APPROXIMATELY USD 0.4 MILLION

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nObiSKGLxa
    
 Further company coverage:  ELEM.OL  
   


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