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Dovre Group Oyj Completes Divestment Of Safran


Thursday, 30 May 2013 07:30am EDT 

Dovre Group Oyj announced that the divestment of its fully-owned Norwegian subsidiary Safran Software Solutions AS (Safran), announced on December 28, 2012, has been closed. In the transaction Dovre Group Plc has sold the entire share capital of Safran to SNA Holding AS, backed by a Stavanger based Private Equity company Progressus together with local investors. Dovre Group Plc will receive approx. EUR4 million (NOK33.8 million), incl. Safran’s cash and cash equivalents, in exchange for the shares in Safran. The share consideration was deducted by an extraordinary dividend to Dovre Group Plc of approx. EUR1 million paid before closing. 

Company Quote

0.43
-0.0070 -1.60%
11:29am EDT