Altor Fund IV has on December 17 acquired 10 million shares in Spectrum ASA corresponding to 23.3% of the shares outstanding. Altor has through this acquisition crossed the 20% threshold. This is Altor Fund IV´s first investment.
Altor considers Spectrum to be a very well positioned and reputable seismic service provider with a strong team, business model and track record. Altor believes that the company with its pure-play multi-client model has a great potential to continue its strong performance in a challenging market. Altor looks forward to supporting the management team on the journey ahead.
As the largest shareholder in Spectrum ASA, Altor will propose a candidate to the board of directors and call for an extraordinary general meeting.