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

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AGR Group ASA announces restructuring of AGR Petroleum Services Holding AS

Tuesday, 21 Jan 2014 02:00am EST 

AGR Group ASA:Says its AGR Petroleum Services Holding AS (AGPS) wishes to separate the E&P Business from the Petroleum Services Business.Says AGPS proposes to carry out a de-merger (the transaction), whereby all the assets of AGPS, save for the E&P Business, will be transferred to a new holding company ("Newco") with the same ownership structure as AGPS.Says the intention is to structure the Transaction in a way that all the current assets, rights and obligations of AGPS related to the Petroleum Services Business are transferred to Newco.Says the business operations of the AGR Group will be carried out as currently conducted, with Newco as the new holding company for the AGR Group companies involved in the Petroleum Services Business and AGPS as the holding company for AGR Group's interests in the E&P Business. 

Company Quote

-0.05 -0.58%
22 Jul 2014