Acquisition of WIBE Telescopic Mast AB has been closed

Comrod Communication ASA (Comrod) has previously (22.08.2011) announced the agreement to acquire 80% of the shares of the Swedish company Wibe Telescopic Mast AB (Wibe TM) subject to specific terms. Comrod is now pleased to inform that following completion of a due diligence process this transaction has been closed. The remaining 20% of the shares will be held by AB Wibe - a subsidiary of the French Schneider Electric Group. Comrod has agreed to acquire this remaining 20% shareholding within the next two years at agreed terms.