17 July 2008

Renegotiated purchase agreement for the acquisition of Fosen Holding

Bergen, Norway 16 July 2008 – Bergen Group has together with the shareholders of Fosen Holding finalized the purchase agreement for Bergen Group’s acquisition of Fosen Holding, which also implies that Bergen Group acquires Fosen Yards. The purchase price is reduced from NOK 200 million to NOK 180 million.

- We are very pleased to have concluded the negotiations, says acting CEO in Bergen Group, Kjetil Forland. – With Fosen Yards as part of the group we get access to good facilities and highly competent personnel, as well as a long term contract portfolio. In addition we improve our coverage along the Norwegian coastline and we get a yard in Sweden with very competent personnel, which we plan to develop further as specialists within offshore modules. Fosen also comprises a dedicated design group, which offers exciting opportunities for development and design of offshore vessels for the future.

 

Read more in the stock exchange notice which contains the main points of the norwegian press release.