Volvo Aero Acquisition Of Norwegian Government's And Kongsberg Group's Shares In Norsk Jetmotor Is Concluded.
Volvo Aero today completed the acquisition of 66 2/3% of the shares in Norsk Jetmotor, the Norwegian manufacturer of aircraft engine components. The sellers were the Norwegian Government and the Kongsberg Group.
As announced previously, the purchase price was NOK 207 M. Concurrently, Volvo Aero assumed a subordinated loan amounting to NOK 75 M.
In conjunction with the acquisition, Norsk Jetmotor changes name to Volvo Aero Norge AS.
The other shareholders in Volvo Aero Norge are Pratt&Whitney of the U.S., 22 2/9%, and Snecma, France, with 11 1/9% of the shares.
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Volvo Aero Acquisition Of Norwegian Government's And Kongsberg Group's Shares In Norsk Jetmotor Is Concluded.
