Analyst Research

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Provider: Reuters Investment Profile
Provider: Wright Reports

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Hexagon Composites sells Hexagon Devold AS to SAERTEX for NOK 115 mln

Thursday, 16 Jan 2014 05:39am EST 

Hexagon Composites ASA:Says has agreed to sell all its shares in the wholly-owned subsidiary Hexagon Devold AS to the German company SAERTEX GmbH & Co. KG.Says the closing of the transaction will take place on Jan. 30.Says AERTEX will pay 115 million Norwegian crowns for the transaction plus any net change in equity in Q4 2013, for equity and internal long-term debt.Says the total cash effect for Hexagon Composites is estimated to be about the same.Says a long-term external debt in Hexagon Devold's subsidiary in Lithuania of 16.8 million Norwegian crowns will be transferred to the new owner. 

Company Quote

-1.2 -4.03%
10:25am EDT