Dovre Group Oyj - Company Announcement

Dovre Group completes the divestment of Safran

Helsinki, Finland, 2013-05-30 13:30 CEST (GLOBE NEWSWIRE) -- 

Dovre Group Plc          Stock Exchange Bulletin                      May 30,
2013 at 02:30 pm 

Dovre Group completes the divestment of Safran

The divestment of Dovre Group Plc's fully-owned Norwegian subsidiary Safran
Software Solutions AS (Safran), announced on December 28, 2012, has been closed
today. In the transaction Dovre Group Plc has sold the entire share capital of
Safran to SNA Holding AS, backed by a Stavanger based Private Equity company
Progressus together with local investors. 

Dovre Group Plc will receive approx. EUR 4 million (NOK 33.8 million), incl.
Safran's cash and cash equivalents, in exchange for the shares in Safran. The
share consideration was deducted by an extraordinary dividend to Dovre Group
Plc of approx. EUR 1 million paid before closing. 

The Group will recognize a gain on disposal of approx. EUR 4 million and an
increase in cash and cash equivalents of close to EUR 4 million in the second
quarter of 2013. 

The Group has reported Safran under discontinued operations as of the last
quarter of 2012. 



Dovre Group Plc

Janne Mielck, CEO

Tel. +358 (0)20 436 2000

janne.mielck@dovregroup.com



www.dovregroup.com



Dovre Group is a global provider of project management services. Dovre Group
has two business areas: Project Personnel and Consulting. In 2012, the Group's
net sales were EUR 94 million. Dovre Group employs over 450 people worldwide.
Dovre Group is listed on the NASDAQ OMX Helsinki (symbol: DOV1V). 

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NASDAQ OMX Helsinki Plc

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