Sale of NextGenTel property completed

As announced on 22 October 2013, NextGenTel AS, a company in the Telio Group, has on 21 October 2013 accepted a bid from a buyer to acquire 100% of the shares in its wholly owned subsidiary Sandslimarka 31 AS. The property in Sandslimarka 31 in Bergen is the main asset of this subsidiary and is the office building of NextGenTel. The parties have on 11 December 2013 signed a sale and purchase agreement for the property and a lease agreement. The formal transfer of the asset will take place on 31 December 2013 and the lease agreement is effective from 1 January 2014.   

The transaction brings NOK 94.9 million to NextGenTel AS. For practical purposes, the buyer has asked for, and NextGenTel has accepted, a later payment date. NextGenTel will receive payment on 15 January 2014. The buyer has provided appropriate security to support this postponed payment.