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AKVA Group — M&A Activity 2015
Dec 23, 2015
3532_iss_2015-12-23_1d73dcec-3faa-4f6d-bb71-34deb04f8624.html
M&A Activity
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AKVA group ASA : AKVA group contemplating acquisition of AD Offshore AS
AKVA group ASA : AKVA group contemplating acquisition of AD Offshore AS
AKVA group ASA has entered into a letter of intent regarding a possible
acquisition of a majority stake in aquaculture farming services provider AD
Offshore AS. The parties aim to complete customary due diligence investigations
and negotiations of a final purchase agreement by mid-February 2016, and if
final terms are agreed to complete the transaction by the end of February 2016.
A transaction is expected to be settled in cash.
AD Offshore AS is a leading provider of aquaculture farming services in the
Norwegian county's Hordaland and Rogaland, and in 2014 had earnings of NOK 86.0
million (2013: NOK 54.0 million), profits after tax of NOK 18.1 million (2013:
NOK 6.8 million) and total assets of NOK 48.7 million (2013: NOK 31.6 million).
About AKVA group
AKVA group is a technology and service partner to the aquaculture industry
worldwide. The company has 690 employees, offices in 8 countries and a total
turnover of NOK 1.2 billion in 2014. We are a public listed company operating in
one of the world's fastest growing industries and supply everything from single
components to complete installations, both for cage farming and land based
aquaculture. AKVA group is recognized as a pioneer and technology leader through
more than 30 years. The Corporate Headquarter is in Bryne, Norway.
Date: 23 December 2015
AKVA group ASA
CONTACTS:
Trond Williksen Chief Executive Officer
Phone: +47 51 77 85 00
Mobile: +47 91 63 01 73
E-mail: [email protected]
Eirik Børve Monsen Chief Financial Officer
Phone: +47 51 77 85 00
Mobile: +47 91 63 98 31
E-mail: [email protected]
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1975763]