0QVE Fenix Outdoor International Ag

Fenix Outdoor completes acquisition of majority stake in Devold

Fenix Outdoor completes acquisition of majority stake in Devold

Today, Fenix Outdoor International AG completed the acquisition of a majority shareholding in Devold of Norway AS, as announced on Tuesday, 4 March 2005.

Fenix has paid 35 MEUR for the 65% stake in Devold through a combination of cash and 112,898 Fenix Outdoor treasury shares. The seller is Flakk Group, which retains 35% of the shares in Devold.

The parties have in addition agreed on a mutual put/call arrangement, starting four years from signing, whereby Fenix Outdoor has the right to buy and the Flakk Group has the right to sell the 35% of Devold shares held by the Flakk Group.

If any further questions, please contact:

CFO of Fenix Outdoor, Thomas Lindberg, + 46 703 33 17 63

Attachment

• Devold closing