ÅF AB: No Additional Consideration for the Acquisition of Epsilon
|For further information:|
|Emma Claesson, VP Human Resources & Communications||+46 72 209 47 39|
Because of a rumor circulating about arbitration proceedings concerning additional consideration for the acquisition of Epsilon, ÅF hereby issues the following statement.
The seller Danir has, without specifying the amount, communicated that Danir intends to initiate arbitration proceedings to obtain additional payment for the sale of Epsilon to ÅF. ÅF has been and still is of the opinion that Danir's claims are entirely unfounded. If Danir initiates arbitration proceedings, ÅF will contest the claims.
Through an agreement of October 2012, ÅF acquired the shares in Epsilon Holding and its subsidiaries from Danir AB. The shares were paid partly in cash and partly through a new issue of ÅF shares. The agreement also entitles Danir to an additional consideration if the results for the year 2014 reached a certain level or, if this level was not achieved, based on the result for Epsilon in 2012. ÅF has in the beginning of 2015 paid Danir 104 MSEK which is the additional consideration Danir is entitled to.
The information contained in this press release is such that ÅF is required to disclose pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication on 28 October 2015.
ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets, creating progress for our clients since 1895. By connecting technologies we provide profitable, innovative and sustainable solutions to shape the future and improve people's lives. Building on our strong base in Europe, our business and clients are found all over the world.
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