Studsvik has signed an agreement to sell its French subsidiary Studsvik SAS to HPS Nuclear Services SARL. The transaction will reduce the Group's earnings by SEK 7 million in 2012. The effect on earnings and cash flow in Studsvik's operations in 2013 compared with 2012 is expected to be positive and be about SEK 6 million.
HPS Services Nuclear SARL is under the control of one of the senior management executives of Studsvik SAS, Mr Thierry Hoffmann. Consequently, the buyer can only take possession of the shares after the agreement has been approved by the general meeting of Studsvik AB. The Board of Directors intends to call an extraordinary general meeting as soon as possible.
Studsvik said that the company will continue to have local representation in France in the form of a sales company that is to support the Group segments' business in the French market. The head of the French sales company will be Helène Deniau, currently President of Studsvik SAS.