Natholmen AS acquired Wega Mining ASA from Avocet Mining plc (LSE:AVM) for $0.4 million on March 16, 2018. Under the terms of the transaction, Avocet sold entire issued share capital of Wega Mining to Natholmen AS for $1 in cash on an as is/where is basis. In addition, the transaction involves the sale by Avocet of certain intercompany receivables owed to it by Wega Mining and its subsidiaries for a total cash consideration of $0.4 million. The deal does not require shareholder approval and has been approved by the Board of Avocet. Michael Wentworth-Stanley of J.P. Morgan Cazenove acted as broker to Avocet Mining in the transaction. Natholmen AS completed the acquisition of Wega Mining ASA from Avocet Mining plc (LSE:AVM) on March 16, 2018.