Thrane & Thrane Buys Nera's Satellite Units

Monday, August 20, 2001
Danish satellite communication equipment maker Thrane & Thrane said on Monday it bought the satellite units of Norwegian Nera for around half a billion Danish crowns ($61.5 million), sending its shares to a four-month high.

For the two units Nera SatCom and Nera WBA Satellite, Thrane & Thrane will pay 235 million crowns in cash and around three million new shares corresponding to around 40 percent of Thrane's total capital after a share capital increase.

"The intention is to create a leading manufacturer within satellite ground equipment with the strength to participate in both the mobile and the broadband market segments," Thrane said in a statement.

Thrane shares were eight crowns or 8.3 percent up at 104 crowns, while Copenhagen bourse's KVX growth index, of which it is a constituent, was 0.13 percent up. Shares in Nera opened 4.6 percent higher in 27.00 Norwegian crowns.

After the deal, which is dependent on satisfactory due diligence for both parties, the combined company will have an annual turnover exceeding 1.1 billion crowns and around 580 employees.

Thrane & Thrane expects the deal to yield annual synergies of 45-50 million crowns from the financial year ending April 30, 2003 and onwards.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0775 sec (13 req/sec)