OSLO, Norway, Nov. 18, 2021 /PRNewswire/ -- Akastor ASA (AKAST)
has today received payment of USD 6.5
million following a settlement in respect of the right to
earn-out payment under the share purchase agreement dated
13 July 2016 (the "SPA") concerning
the divestment of Managed Pressure Operations International Ltd
("MPO"). The SPA is formally with MHWirth AS ("MHWirth") as seller
of MPO, but the right to any earn-out payment was carved out from
the merger involving MHWirth and SDS which was completed on
1 October 2021.
The net cash contribution to Akastor was USD 5.4 million after deducting for costs and
back-to-back liabilities.
For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
Oyvind.paaske@akastor.com
This information is subject to the disclosure requirements
pursuant to section 5.12 of the Norwegian Securities Trading
Act.
Akastor is a Norway-based
oil-services investment company with a portfolio of industrial
holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.
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