Closing of the sale of Frontica Business Solutions

  • November 29, 2016
  • 09:03

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, including approval from relevant authorities, and the closing of the
transactions 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