Eltel divests rail operations in Norway
Eltel has today signed an agreement to divest its Norwegian rail operations to Æra AS, a wholly owned subsidiary of Jotunfjell Partners AS.Eltel's rail operations in the Norwegian market generated net sales of EUR 13.1 million in 2017 and an EBITA of EUR -4.7 million. The transaction price is EUR 1. The expected cash flow effect is EUR -0.7 million, expected to occur in the third quarter of 2018 in connection with the completion of the transaction. The sale means that the divestments of all non-core businesses, except for completion of certain projects and warranty undertakings in the