Nekkar — M&A Activity 2019

Mar 25, 2019

TTS Group ASA: Update on competition filing – Chinese clearance still pending

TTS Group ASA: Update on competition filing – Chinese clearance still pending

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. Approvals from German and South Korean

competition authorities were announced 6 November 2018 and 27 December 2018

respectively.

According to stock exchange notification of 20 December 2018, the parties

expected to receive clearance from all competition authorities in Q1 2019.

Due to longer than expected regulatory processes in China, expected closing of

the transaction will move to Q2 2019.

Bergen, 25 March 2019

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

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act