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Sale of Brazil assets completed

26 September 2018

26 September 2018 – Ice Group has completed the sale of its 30 percent ownership share in in Nextel Holdings S.à r.l. ("Nextel Holdings") to AI Media Holdings (NMT) LLC (“Access Industries”).

Ice Group (“the company”) announced the proposed sale of its Nextel Brazil stake on 31 May 2018. Subsequently, on 22 June 2018, the company announced that it had signed the sale and purchase agreement with Access Industries and that the proceeds (USD 70 million) had been received by Ice Group.

All necessary conditions for the transactions have been met and the transaction has been completed.

On 21 June 2018, NOK 500 million of the proceeds from the transaction were injected as equity into Ice Group Scandinavia Holdings AS with the purpose of funding further growth ambitions in Norway.

ENDS

For further information, please contact:

Investors: Henning Karlsrud, CFO of Ice Group, tel: +47 93 04 53 89

Media: Endre Aaberg Johansen, Corporate Communications AS, tel: +47 41 61 06 05, email: endre.johansen@corpcom.no

 

These materials are not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. ice group AS does not intend to register any part of any offering in the United States or to conduct a public offering in the United States.

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For media enquiries to ice group, please contact:

Endre Aaberg Johansen - Corporate Communications AS
Tel: +47 41 61 06 05
Email: endre.johansen@corpcom.no