Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/akastor-completes-sale-of-frontica-business-soluti.shtmlAkastor Completes Sale of Frontica Business Solutions to Cognizant
Akastor has announced that the agreement to sell the ITO and the BPO business of Frontica Business Solutions AS to Cognizant has been completed.
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Akastor has announced that the agreement to sell the ITO and the BPO business of Frontica Business Solutions AS to Cognizant has been completed. All closing conditions have been fulfilled, and the closing of the transaction took place on November 28, 2016 according to the terms and conditions described in an earlier release.
The sale will generate an accounting gain of approximately NOK 500 million to Akastor to be recognised in the fourth quarter results.
