Akva Group ASA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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AKVA Group ASA Announces Acquisition of Shares in Plastsveis AS
AKVA Group ASA announced that it has on February 20, 2013 entered into an agreement with the shareholders of Plastsveis AS, to acquire 70% of the shares in Plastsveis AS for a price of NOK 20 million. 90% of the purchase price will be paid in cash on completion. The remaining 10% will be paid six months after the transaction is completed. The transaction is subject to final approval from the Norwegian competition authorities and is assumed to be completed mid March 2013, with operational effect from January 1, 2013. The Company and the owners of Plastsveis AS also hold a mutual option to buy / sell the remaining 30% of the shares in Plastsveis AS from January 1, 2016 onwards. The pricing of the remaining 30% of the shares is linked to the performance of the company over the next three calendar years. Plastsveis AS provides PE equipment, installation and services to the fish farming, agriculture and other industries. The company is located in Sor-Helgeland and has approximately 40 employees. The core business entails delivery and installation of tub and pipe plants to land based fish farming facilities as well as processing of pipes in polyethylene plastic for the fish farming industry, for agriculture and oil services. The company also participates in development project for the fish farming industry.
Latest Developments for Akva Group ASA
- AKVA Group ASA Completes Acquisition of Majority Stake in Plastsveis AS
- Egersund Group AS Announces Final Outcome of Mandatory Offer for Shares in AKVA Group ASA
- AKVA Group ASA Announces Preliminary Results of Egersund Group AS' Offer
- Fund Managed by SKAGEN AS Sells Entire Stake in AKVA Group ASA to Egersund Group
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