Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Eitzen Maritime Services ASA Eitzen Maritime Services ASA (EMS) today announced the sale of its majority shareholding in Spanish watch retail company Clockwise. The sale reflects EMS' strategy of developing its Ship Supply division into a pure play global maritime supply organization.
EMS became owner of a 54 per cent holding in Clockwise through the acquisition of Spanish ship supply company Provimar last year. Clockwise operates 11 watch stores on the Eastern coast of Spain.
The Clockwise shares are sold for a consideration of € 850,000 to the chain's minority shareholder, who is also the company's CEO. € 700,000 will be paid in cash at the time of transaction while the balance is due for payment after nine months. The transaction represents a NOK 4.7 million profit, which will appear in EMS' accounts for the second quarter 2008.
For further information: Annette Malm Justad Chief Executive Officer Tel: +47 95 20 93 96
