Aspo's ESL Shipping to sell its share in the insurance company Alandia

ASPO Plc   STOCK EXCHANGE RELEASE      March 13, 2015 at 16:10     
 
ASPO'S ESL SHIPPING TO SELL ITS SHARE IN THE INSURANCE COMPANY ALANDIA
 
ESL Shipping Ltd, part of Aspo Group, has held approximately 3.5 % of the shares in the insurance company Försäkringsaktiebolaget Alandia. Today on March 13, 2015, ESL Shipping has sold its shares in Alandia to Bore Ltd, part of Rettig Group.

The deal will result in a non-recurring gain of approximately EUR 4.9 million for Aspo. The parties will not disclose the transaction price.

ESL Shipping is the leading dry bulk cargo company in the Baltic Sea region. In 2014, the volume of cargo carried by ESL Shipping amounted to approximately 12.1 million tons. The company's fleet consists of 14 vessels, 13 fully-owned and one leased.

ASPO Plc

Aki Ojanen
CEO

For further information, please contact:
Arto Meitsalo, CFO, Aspo Plc, +358 9 5211 or +358 40 5511422, arto.meitsalo (a)aspo.com
www.aspo.com


Aspo is a conglomerate that owns and develops business operations in the Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships, and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules. www.aspo.com 

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