BlomASA signs agreement to divest its Danish subsidiary Blominfo a/s

January 27, 2012 -- Blom ASA (Blom) has signed an agreement to divest its Danish subsidiary BlomInfo A/S to the Danish engineering and consulting company NIRAS A/S.

Blom will receive a consideration of DKK 19.4 million as compensation for the equity in BlomInfo A/S and working capital provided by Blom to BlomInfo A/S. After the completion date Blom may receive up to an additional DKK 4.5 million as further repayment of the working capital in BlomInfo A/S.

The transaction is expected to be completed within the end of next week.

The transaction comprises the activities of BlomInfo A/S in Denmark and certain projects for mapping and property registration carried out outside Denmark. The transaction does not comprise the shares hold by BlomInfo A/S in PT Blom Nusantara, Indonesia (95%), Blom Romania SRL, Romania (100%), Blom Bulgaria EODD, Bulgaria (100%), BlomInfo Polska Sp.zo.o., Poland (100%), Blom Kosova Shpk, Kosovo (100%) and BlomInfo Ukraine Ltd., Ukraine (51%), which ownership will remain with Blom.

BlomInfo A/S had 42 employees at 30. September 2011 and its Board and Management consisted of the following members:

Board of Directors:

Dirk Blaauw, Chairman of the Board

Simon Holse

Jannie Elisabeth Westermann

Gunnar Hirsti

Lars Bakklund

Management:

Kristian Skak Nielsen, General Manager

Jesper Rye Rasmussen - Market Manager

Niels Verner Pedersen - Head of Århus branch office

Laurids Rolighed Larsen - Key Account Manager

Claus Poetzsch - Director International Business

Vibeke Godvin Jensen - Finance Manager

The key financials (in NOK 1,000) of BlomInfo A/S are:

BlomInfo A/S
( 1000 NOK)
P&L			YTD Q3 2011		2010		2009
Revenues			50 968		69 363		92 518
EBITDA			612		-10 622		792
Net result			-1 158		-13 405		-2 611
Balance (divested items)			YTD Q3 2011		2 010		2 009
Fixed assets			2 432		3 462		5 233
Current assets			44 975		44 432		54 550
Liabilities			18 359		23 173		23 948

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