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I.M. Skaugen SE: Completion of agreed sale and receipt of agreed purchase price from the sale of 50% of the shares in Shenghui Gas and Chemical System in China.

Dec 04, 2013 - Thomson Reuters ONE

After agreeing terms and signing a binding equity transfer agreement in early November as well as receiving a non-refundable down payment, the buyer Liangzhong Investment Co. Ltd, China has now arranged its financing and managed to pay the agreed RMB259 mill. or abt USD 42 mill in full. The transaction will generate a cash flow for the group of abt USD 42 mill and a book gain of abt USD 6.1 mill. Initial investment was USD 11 mill.

The sale of our shares in Shenghui is in line with IMS' fo...