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Acquisition of the majority shareholding of UNI Aqua AS


AKVA group ASA entered into a letter of intent with Scheel & Urup Holding ApS for the acquisition of 85 % of the shares of UNI Aqua AS on 10 August 2007. Reference is made to the stock exchange announcement made on 10 August 2007.

AKVA group ASA and Scheel & Urup Holding ApS has signed a share purchase agreement for the acquisition of 85 % of the shares of UNI Aqua AS.

The consideration for the shares is DKK 13,006,000, in addition to an earn-out consideration for 2008, 2009 and 2010 which is conditional upon the EBITDA and revenue of the target company satisfying agreed levels.

AKVA group views this acquisition as strategically important in order to supplement its product base with leading and relevant technology. By this acquisition AKVA group ASA will become a leading provider of recirculation technology.

The parties intend to consummate the acquisition on or about 10 October 2007.

Bryne, 8 October 2007
AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Molaug, Chief Executive Officer
Phone: +47 51 77 85 40
Email: kmolaug@akvagroup.com

Rolf Andersen, Chief Financial Officer
Phone: +47 51 77 85 48
E-mail: randersen@akvagroup.com

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