Rieber agreed in January 2014 to sell its stake in Reef Subsea for NOK 175m ($23.2m) to HV V Invest Golf and HV V Invest Golf II, two companies owned by equity fund HitecVision V.
The transaction included a seller’s credit of NOK 180m, plus accrued interests of NOK 10m.
In a filing with the Oslo Stock Exchange today, Rieber said the HV V Golf companies have not fulfilled their obligations regarding the seller's credit and this has now become due and payable.
This
