Strategic acquisition of Investment Management companies
Obligo Investment Management AS ("Obligo"), a subsidiary of Agasti Holding ASA, acquires the companies ABG Sundal Collier Real Estate AS and ABG Sundal Collier Real Estate, Inc. ("The Companies") from ABG Sundal Collier Norge ASA.
The Companies which are part of the transaction conducts Investment Management services for a number of investment companies within the real estate and shipping industries. The investment companies are primarily owned by clients with the Agasti Group.
Obligo acquires 100 per cent of the shares in The Companies at a purchase price of NOK 45 million plus an additional payment of NOK 8 million to NOK 11 million. The purchase price will be paid over a period of five years.
Obligo and the Companies which are part of the transaction complement each other well and together form an even stronger operator in the Nordic market for Investment Management services. "The transaction is in line with Obligos spoken ambition to strengthen its presence in the Investment Management segment, and will contribute, both in the short and long term, to improve the Group's competitive edge considerably", says Alfred Ydstebø, CEO in Agasti Holding ASA. "We are very pleased with the fact that ABG Sundal Collier Real Estate will join forces with Obligo. These are companies with which we have a long history, and which have a portfolio managed by ten highly skilled professionals. We have now built a robust and knowledge-driven institutional management platform which will contribute to even better services to our existing clients. At the same time we have the best platform with respect to attract new mandates, both from larger clients and institutional investors", says Ydstebø.
Following the above mentioned purchase agreement, ABG Sundal Collier and the Agasti Group has entered into a five year Corporate Finance joint venture agreement within the areas real estate and shipping. "The transaction is a continuation of the historical cooperation between our two groups, and will going forward be founded on the core business and the main strategies for each group," says Knut Brundtland, CEO in ABG Sundal Collier ASA.
Jørgen Pleym Ulvness, deputy CEO – phone +47 906 67 877
Christian Tunge, CFO – phone +47 450 65 850
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).