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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData
Provider: GlobalData

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Arendals Fossekompani ASA Signs Letter of Intent for Sale of 80% Stake in NSSLGlobal

Tuesday, 19 Feb 2013 02:35am EST 

Arendals Fossekompani ASA (AFK) announced that with reference to the notice dated August 30, 2012 regarding the possible sale of the Company's 80% stake in NSSLGlobal (NSSL) that is owned through a wholly owned subsidiary World Wide Communications AS, AFK has signed a letter of intent for the sale of its stake in NSSL with an international company. The sale depends on a judicially binding transaction agreement and a number of other conditions that need to be satisfied. Unaudited accounts for NSSL show a turnover of GBP 54 million, EBITDA of GBP 9.4 million and profit after tax of GBP 5.1 million. NSSL had negative net debt at year-end of GBP -6 million. 

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25 Nov 2014