AKVA Group - M&A Activity 2016 | FinancialReports.eu

AKVA group ASA : AKVA Marine Services AS contemplating acquisition of Techno Dive AS

AKVA Marine Services AS, a 65 per cent owned subsidiary of AKVA group ASA, has

entered into a letter of intent regarding a possible acquisition of

inshore/offshore diving and aquaculture farming services provider Techno Dive

AS. The parties aim to complete customary due diligence investigations and

negotiations of a final purchase agreement by mid-June 2016, and if final terms

are agreed to complete the transaction by the end of June 2016. A transaction is

expected to be settled in cash.

Techno Dive AS is a leading provider of safe and efficient subsea work, with

worldwide experience through numerous projects. The company is considered to be

a good fit with AKVA Marine Services and is expected to strengthen its position

in the Farming Services segment further. Techno Dive AS has 16 full time

employees, and had an annual turnover in 2015 of NOK 25 million.

About AKVA group

AKVA group is a technology and service partner to the aquaculture industry

worldwide. The company has 670 employees, offices in 8 countries and a total

turnover of NOK 1.4 billion in 2015. 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: 10 May 2016

AKVA group ASA

CONTACTS:

Trond Williksen Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 63 01 73

Eirik Børve Monsen Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 91 63 98 31

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#2011337]

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