Akastor ASA: Akastor Completes Sale of Frontica Business Solutions to Cognizant

Reference is made to the stock exchange release dated October 3, 2016 regarding Akastor's agreement to sell the ITO and the BPO business of Frontica Business Solutions AS to Cognizant. All closing conditions have been fulfilled, and the closing of the transaction took place on November 28, 2016 according to the terms and conditions described in the release.

The sale will generate an accounting gain of approximately NOK 500 million to Akastor to be recognized in the fourth quarter results.


For further information, please contact:

Tore D. Langballe
Head of Communications & Investor Relations
Mob: +47 907 77 841

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akastor ASA via Globenewswire