Nortel AS (OB:NTEL) entered an agreement to acquire Atea Mobil from Atea ASA (OB:ATEA) for NOK 72.5 million.

Nortel AS (OB:NTEL) entered an agreement to acquire Atea Mobil from Atea ASA (OB:ATEA) for NOK 72.5 million on April 7, 2022. Nortel will carry out a private placement for NOK 80 million in order to fund the transaction. As part of the agreement, eight employees will be transferred to Nortel.

Completion of the transaction is expected on May 1, 2022. Atea Norway will recognize a net positive EBIT impact of NOK 40 million from the sale of Atea Mobil in Q2 2022.