Extract from M&A Insights

The below story was originally featured in our daily M&A Insights Newsletter. Selected stories, including this one, are posted to our website with some weeks of delay.
Belships to merge with Lighthouse Group
October 5, 2018

Belships has signed a merger agreement with the Lighthouse companies, which is owned by Kontrari AS. Belships will take over the assets, rights and obligations of the Lighthouse companies against the issue of 127,765,993 remuneration shares in Belships. The merger merger is based on an enterprise value of Belships of USD 37.66m. In addition, Sonata AS, who owned 67.05 percent of Belship, sells 14,285,714 shares to Kontrari for a total of NOK 100 million. The sale of shares means that Kontrari, controlled by Frode Teigen, will own 30.2 percent of Belships.

ⓘ This story was originally featured in our daily M&A Insights newsletter.
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