AKVA group ASA has entered into an asset purchase agreement for the acquisition of the complete business of Danaq a.m.b.a. ("Danaq"), a Danish limited liability partnership.
Danaq is an important and leading supplier of consultancy services in connection with aquaculture recirculation technology. The company has 5 highly skilled employees in recirculation aquaculture systems. The two owners of Danaq, Bent Højgaard and Jacob Bregnballe and the rest of the team at Danaq will team up with the AKVA group recirculation team (UNI Aqua) in Denmark. Bent Højgaard and Jacob Bregnballe are both well known capacities within recirculation aquaculture systems globally. By this move AKVA group has strengthened its competence and capacity within this field significantly.
The asset purchase agreement is binding, but may be terminated if material findings are made during the pending due diligence examinations. The due diligence will take place in January 2008.
The agreed consideration for the acquisition of the assets is DKK 2,950,000.
The parties intend to consummate the acquisition in February 2008.
Bryne, 3 January 2008
AKVA group ASA
Web: www.akvagroup.com
CONTACTS:
Knut Molaug, Chief Executive Officer
Phone: +47 51 77 85 40
Email: kmolaug@akvagroup.com
Rolf Andersen, Chief Financial Officer
Phone: +47 51 77 85 48
E-mail: randersen@akvagroup.com
Asset purchase agreement signed for the acquisition of the complete business of Danaq amba.
| Source: AKVA group ASA