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Blom ASA to divest Romanien subsidiary to Ramboel A/S


Tuesday, 26 Nov 2013 02:00am EST 

Blom ASA:Says it has signed an agreement to divest its Romanian subsidiary Blom Romania SRL to the Danish engineering company Ramboell A/S.Says it will receive a consideration of 2.1 million euros in cash for 100 percent of the shares in Blom Romania SRL.Says the transaction is expected to be completed in the first quarter 2014.Says the transaction does not include the activities of Blom International Operations SRL in Romania.Syas the transaction decreases the funding requirements and increases the liquidity reserves of the Blom Group and reduces the operational and credit risk exposure in geographical areas proven to be challenging. 

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