13 April 2018
Termination of share purchase agreement with VITEK AS
The parties have not reached the necessary agreement on elements deemed necessary in order to finalize a transaction acceptable for both parties.
(Bergen 13 April 2018): Reference is made to a stock exchange announcement disclosed 28 February 2018, informing about Bergen Group ASA (Buyer) and Tertnes Holding (Seller) having entered into a Share Purchase Agreement (SPA) for the acquisition of the company Vitek AS and its wholly-owned subsidiary Vitek Miljø AS.
The parties have not reached the necessary agreement on elements deemed necessary in order to finalize a transaction acceptable for both parties. It is therefore decided to terminate the SPA.
CEO Torgeir Nærø in Bergen Group ASA regrets that the parties failed to achieve the goal of a transaction.
“Bergen Group recognizes VITEK as a company with a strong position in a future-oriented market with large potential for further profitable growth. We still see potential synergies that may be relevant for market based collaboration, "says Nærø.
Bergen Group ASA is a Norwegian industrial group based in western part of Norway, and a well-established supplier of products and services to the areas of Energy & Industry, Maritime, Defense and Access Technology. The Group has adopted a dedicated growth strategy comprising both organic and structural measures. Currently, the Group is in process of expanding its footprint in the aquaculture activities. As a part of this, the Group recently entered into a sale purchase agreement with Backe Bergen AS about acquisition of integrated feed barge production and dry dock capacity located at Stamsneset at Grimstadfjorden in Bergen. For further information: www.newsweb.no and www.bergengroup.no
Contact: CEO Torgeir Nærø, Bergen Group ASA, telephone +47 47 922 00 778