Opcon: Closes sale of compressor and Waste Heat Recovery business
Opcon, the energy and environmental technology Group has closed the sale of the newly formed holding company, Opcon Compressor Technology AB with its subsidiaries Svenska Rotor Maskiner AB, Opcon Energy System AB as well as 48.9796% of the shares in the joint venture in China, Fujian Opcon Energy Technology Co. Ltd. according to the share purchase agreement signed on June 30 2015. The sale also includes all the intellectual property rights relating to compressor technology and Opcon Powerbox as well as the Opcon brand. Buyer is the Chinese investment fund, Shanghai XingXueKang Investment Partnership with close ties to Fujian Snowman Co., Ltd.
The purchase price was SEK 400 million of which SEK 60 million was paid in August and the remaining SEK 340 million upon Closing. The parent company’s capital gain amounts to SEK 147 million. Cost for the transaction, including any taxes, are estimated to be below 15 MSEK. During a transitional period Opcon will also assist the sold companies with some administrative services.
Advisors to Opcon have been Awapatent AB, Hamilton Advokatbyrå and Erik Penser Bankaktiebolag. Legal advisor for the Buyer has been Advokatfirman Vinge.
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy with focus on bioenergy.
Opcon has activities in Sweden, Germany and the UK. There are around 100 employees. The company’s shares are listed on Nasdaq OMX Stockholm.
This information was submitted for publication on Friday 30 October 2015, at around 14:30 (CET).
For further information, please contact
Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. 46 8-466 45 00, 46-70-592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. 46 8-466 45 00, fax 46 8-716 76 61
e-mail: info@Opcon.se
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy with focus on bioenergy.
Opcon has activities in Sweden, Germany and the UK. There are around 100 employees. The company’s shares are listed on Nasdaq OMX Stockholm.