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© designersart dreamstime.com Electronics Production | October 19, 2016

Kongsberg sells its stake in Kitron

Norwegian Kongsberg Gruppen ASA has sold its stake in EMS provider Kitron. Kongsberg sold its 33.4 million shares representing 19.33% of the shares in Kitron.
The company sold its stake to a price of NOK 5.50 per share (a total value of NOK 183.7 million, or EUR 20.49 million). Following the completion of the sale Kongsberg Gruppen ASA will not hold any shares in Kitron ASA.

During the same day, FIRST Fondene AS – consisting of Swedbank’s old fund management in Norway – bought 6 million shares in Kitron. In total, FIRST Fondene owns 9,939,901 shares in Kitron AS, corresponding to a share of 5.75%.
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Update: In a later update on the Norwegian stock market, FIRST Fondene AS sold 3 million shares in Kitron making their total stake in the company 4.01% of the outstanding shares.

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