The sales transaction with EWOS was completed on 31 October 2013. A gain of NOK 2.7 billion was recognised in the income statement for 2013 and included a "Contingent Consideration" of up to NOK 180 million related to overdue receivables in Chile. The Contingent Consideration was dependent on receipt by EWOS of payment of outstanding amounts from the two Chilean customers Acuinova and Nova Austral.


Albain Bidco Norway AS and Cermaq ASA ("Cermaq") have entered into an agreement in which it is agreed that the Contingent Consideration will be finally settled through payment by Albain Bidco Norway AS of NOK 100 million. The payment will be made in two equal installments at year end 2016 and 2017. In case of a change of control event in Nova Austral subsequent to completion of the acquisition of Nova Austral by an affiliate of EWOS, an amount of NOK 80 million of the total NOK 100 million will be due for payment to Cermaq.


This agreement will have limited financial impact in Cermaq's Group accounts as the estimated gain of NOK 2.7 billion includes a provision of approximately NOK 80 million related to the contingent consideration.

16.10.2014
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