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Supreme Group to acquire EMS Seven Seas

Norwegian EMS Seven Seas has postponed its share issuance after US Supreme Group has offered to buy out the company's five biggest shareholders, corresponding to a total of 82.1 percent of the shares.

Major Norwegian supplier EMS Seven Seas saw its revenue decline in the first quarter of the year, to USD 96.8 million from USD 106.1 million in the fourth quarter 2013. The revenue also decreased compared to the same period last year, where the same figure came to USD 101 million, according to EMS Seven Seas' interim report, published today, Monday.

The company's operating profit (EBITDA) came to USD 3.5 million, an improvement over the previous quarter's USD 2.2 million, and the operating profit also improved year-on-year, from USD 1.4 million in the 1st quarter 2013.

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