AKVA Marine Services AS, a 65 per cent owned subsidiary of AKVA group ASA, has entered into a letter of intent regarding a possible acquisition of inshore/offshore diving and aquaculture farming services provider Techno Dive AS. The parties aim to complete customary due diligence investigations and negotiations of a final purchase agreement by mid-June 2016, and if final terms are agreed to complete the transaction by the end of June 2016. A transaction is expected to be settled in cash.
Techno Dive AS is a leading provider of safe and efficient subsea work, with worldwide experience through numerous projects. The company is considered to be a good fit with AKVA Marine Services and is expected to strengthen its position in the Farming Services segment further. Techno Dive AS has 16 full time employees, and had an annual turnover in 2015 of NOK 25 million.
About AKVA groupAKVA group is a technology and service partner to the aquaculture industry worldwide. The company has 670 employees, offices in 8 countries and a total turnover of NOK 1.4 billion in 2015. We are a public listed company operating in one of the world's fastest growing industries and supply everything from single components to complete installations, both for cage farming and land based aquaculture. AKVA group is recognized as a pioneer and technology leader through more than 30 years. The Corporate Headquarter is in Bryne, Norway.
Date: 10 May 2016
AKVA group ASA
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)