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2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
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Sale of the Drilling Equipment Unit<br />
• April 2012:<br />
- <strong>TTS</strong> <strong>Group</strong> <strong>ASA</strong> signed the agreement to sell the drilling equipment business to<br />
Cameron for USD 270 million on a cash free/debt free basis<br />
- USD 15 million deferred payment over 2 years<br />
- Turnover based earn-out model for a three-year period<br />
• June 2012:<br />
- Closing of transaction. Total gain from the sale was MNOK 420<br />
• Q3 2012:<br />
- Paid MNOK 500 to the shareholders in form of extraordinary dividends and<br />
payback of share capital<br />
• 2013 – 2015:<br />
- Additional dividend capacity in 2013<br />
- All paid earn-out and deferred payment will be allotted to the shareholders
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