June 29, 2017 / 7:03 AM / 2 months ago

BRIEF-Apetit to sell its seafood business to Insula

June 29 (Reuters) - APETIT OYJ

* APETIT TO SELL ITS SEAFOOD BUSINESS TO INSULA AS

* ‍SIGNED AN AGREEMENT TO SELL ITS SEAFOOD BUSINESS IN FINLAND, NORWAY AND SWEDEN TO NORWEGIAN SEAFOOD GROUP INSULA AS.​

* PARTIES WILL NOT DISCLOSE TOTAL TRANSACTION PRICE

* ‍IN FINLAND, APETIT WILL REMAIN A MINORITY SHAREHOLDER OF SEAFOOD BUSINESS, WITH A HOLDING OF LESS THAN 20 PER CENT.​

* TRANSACTION IS NOT ESTIMATED TO HAVE A SIGNIFICANT EFFECT ON APETIT GROUP'S FULL YEAR OPERATIONAL EBIT

* AGREEMENT IS STRUCTURED AS A BUSINESS TRANSFER IN FINLAND AND A SHARE TRANSACTION OF MARITIM FOOD GROUP IN NORWAY AND SWEDEN

* ‍WILL REPORT SEAFOOD SEGMENT AS A DISCONTINUED OPERATION.​

* FINANCIAL OUTLOOK FOR 2017 REMAINS UNCHANGED Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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