Provider: Wright Reports
Namsos Trafikkselskap ASA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Namsos Trafikkselskap ASA Sells 33.33% of Shares in Siva Namsos Eiendom AS to Jaras Eiendom AS and Siva Eiendom Holding AS; Buys Further 10.83% of Shares Outstanding in Norsk Fisketransport Holding AS
Namsos Trafikkselskap ASA (NTS) announced that on November 28, 2012, the Company entered into a contract with Jaras Eiendom AS and Siva Eiendom Holding AS for the sale of 33.33% of shares in Siva Namsos Eiendom AS. The value of the transaction is NOK 38 million. NTS co-founded Siva Namsos Eiendom AS in 2004, when the original price for the shares was NOK 15 million. The transaction is notifiable to the competition authorities, and the acquisition is expected to occur by the end of December 2012. The shares are sold for a cash settlement. Siva Namsos Eiendom AS is engaged in real estate development in Nord-Trondelag. The company has no employees, but it does have a management agreement with Jaras Drift AS. In addition, NTS has signed a contract with Jaras Eiendom AS regarding the purchase of further 10.83% of shares outstanding in Norsk Fisketransport Holding AS at the same price of NOK 19.25 million. Settlement will be made in cash from NTS. After completion of the transaction, NTS will control 36.1% of shares outstanding. The transaction is reserved for clarification regarding the exercise of pre-emption rights of existing shareholders. The acquisition will thus be no later than January 28, 2013. The transactions will help streamline the NTS Group's focus on offensive transport and maritime sectors.
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