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AKVA Group ASA Completes Acquisition of Majority Stake in Plastsveis AS


Friday, 15 Mar 2013 10:02am EDT 

AKVA Group ASA announced that it completed on March 15, 2013 the acquisition of 70% of the shares in Plastsveis AS. The purchase price amounted to NOK 20 million. A total of 90% of the purchase price was paid in cash on completion. The remaining 10% will be paid six months after the transaction is completed. Operational effect of the transaction will be from January 1, 2013. AKVA Group ASA and the owners of Plastsveis AS 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 from 2013. 

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