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Shareholder injection into Scandinavian operation

22 June 2018

22 June 2018 – Reference is made to ice group’s announcement dated 31 May 2018 regarding the proposed sale of its 30 percent ownership share in Nextel Holdings S.à r.l. ("Nextel Holdings") to AI Media Holdings (NMT) LLC (“Access Industries”) for a cash consideration of USD 70 million.

The sale and purchase agreement between ice group and Access Industries has been signed and the proceeds (USD 70 million) have been received by ice group. Final completion of the transaction will take place once necessary conditions have been satisfied.

Subject to certain conditions, an additional USD 5 million may be payable in cash at a later stage. 

ice group may issue a convertible loan of the NOK equivalent to USD 70 million to Access Industries should closing of the transaction not occur. For further details, see the ice group AS EGM minutes dated 15 June 2018.

Subsequent to the receipt of the proceeds from the Nextel Holdings disposal, AINMT Holdings AB has on 21 June 2018 injected NOK 500 million of equity into ice group Scandinavia Holdings AS. The purpose is to fund further growth ambitions in Norway.

ENDS

For further information, please contact:  

Investors: Johan Michelsen, Deputy CEO, ice group, tel: +47 410 87 000

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

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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