Nekkar — M&A Activity 2018

Dec 20, 2018

TTS Group ASA: Update on competition filing – Closing expected in Q1 2019

TTS Group ASA: Update on competition filing – Closing expected in Q1 2019

TTS Group ASA ("TTS") announced on 8 February 2018 that the company had entered

into an asset sale agreement with MacGregor, a subsidiary of Cargotec Oyj listed

on Nasdaq Helsinki Stock Exchange in Finland.

Completion of the contemplated transaction is subject to approval, unconditional

or on conditions acceptable to MacGregor, from relevant competition authorities

in China, South Korea and Germany. The approval from German competition

authorities was announced 6 November 2018.

According to previous stock exchange notifications regarding the planned

transaction, the parties expected to receive clearance from all competition

authorities during Q4 2018, and consequently complete the transaction, according

to the agreement, as soon as possible thereafter.

We are still awaiting clearance from Chinese and South Korean competition

authorities, and will complete the transaction after receiving these approvals.

We expect the closing to take place in Q1 2019.

Bergen, 20 December 2018

TTS Group ASA

http://www.ttsgroup.com

Contact persons:

Toril Eidesvik

CEO

M: +47 900 78 218

Leiv Kallestad

CFO

M: +47 958 95 661