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NKT sells subsidiary NKT Flexibles
Af Jens Nymark
03-02-2012
14:35
NKT has now sold its subsidiary NKT Flexibles for DKK 3.8 billion. Buyer is American National Oilwell Varco, NKT wrote in a stock exchange announcement. The sale of the flexible pipes business is expected to close during the first halt of 2012 and the gain is expected to be recognized in fiscal year 2012.
A survey among analysts made last September by SME Direkt shows that the amount of DKK 3.8 billion is at the lower end of the expectations. The analysts had expected a sales price between DKK 3.3 billion and DKK 5.5 billion.
However, the NKT investors seem to focus on the happy event that they can bid farewell to the producer of flexible pipes which the NKT management no longer wanted.
Since 1999 NKT has owned 51 per cent of NKT Flexibles, while Norwegian Subsea 7 S.A. has owned the remaining part. Thus NKT expects its share of the sale to amount to DKK 1.94 billion.
However, the NKT investors seem to focus on the happy event that they can bid farewell to the producer of flexible pipes which the NKT management no longer wanted.
Since 1999 NKT has owned 51 per cent of NKT Flexibles, while Norwegian Subsea 7 S.A. has owned the remaining part. Thus NKT expects its share of the sale to amount to DKK 1.94 billion.
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*****||*****NKT sells subsidiary NKT Flexibles*****||*****NKT has now sold its subsidiary NKT Flexibles for DKK 3.8 billion. Buyer is American National Oilwell Varco, NKT wrote in a stock exchange announcement. The sale of the flexible pipes business is expected to close during the first halt of 2012 and the gain is expected to be recognized in fiscal year 2012.
A survey among analysts made last September by SME Direkt shows that the amount of DKK 3.8 billion is at the lower end of the expectations. The analysts had expected a sales price between DKK 3.3 billion and DKK 5.5 billion.*****||*****
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