Norwegian aquaculture equipment supplier entered an agreement to acquire a 66 percent stake in ROV and subsea technology company Sperre Group, it announced Friday.
The purchase price for the shares is based on an enterprise value of Sperre on a 100 percent basis of NOK 126.9 million (€14.1 million/$15.4 million), with customary adjustments for net debt and deviations from a normalized level of working capital on completion.
An estimated purchase price for the shares will be paid in cash on completion of the transaction, which is expected for Nov.
