Namsos Trafikkselskap ASA Acquires Folla Sjotransport AS

Namsos Trafikkselskap ASA announced that it has on February 14, 2013 signed an agreement with Folla Sjo Holding AS to acquire all shares of Folla Sjotransport AS. Folla Sjotransport AS owns and operates cargo vessel MS Folla that goes into weekly route between Namsos and Tromso. The vessel is mainly engaged in transportation contracts for Moelven and Ewos, and runs along with general cargo shipping. The purchase price is set at NOK 8.3 million in addition to that free excess liquidity in the company accrues seller. The acquisition will be funded by a combination of borrowing and equity. The acquisition is expected to occur by the end of March 2013.