Fornebu, July 27, 2017:
Reference is made to the stock exchange release dated June 12, 2017 regarding Akastor's agreement to sell KOP Surface Products to The Weir Group PLC. All closing conditions have been fulfilled. The closing of the transaction took place on July 27, 2017 according to the terms and conditions described in the release.
The transaction will generate an estimated accounting gain of approximately NOK 700 million to Akastor to be recognized in the third quarter results.
BA-HR lawfirm has acted as legal advisor.
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Tore Langballe, Head of Communications and IR
+47 907 77 841
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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