Akastor ASA: Fourth quarter and preliminary annual results 2016
Highlights: Several transactions were announced and concluded, releasing approximately NOK 2.6 billion in cash; · Creation of Mitsui/AKOFS Offshore joint venture; cash release of USD 66 million · Sale of Frontica Business Solutions to Cognizant for NOK 1 025 million · Sale of Fjords Processing to National Oilwell Varco (NOV) for NOK 1 200 million · Frontica Advantage joined NES Global Talent in January 2017 · EBITDA for continuing operations of NOK 166 million · Net debt reduced by NOK 2.5 billion to NOK 2.6 billion · Reduced working capital in continuing