Review of Strategic Alternatives for NKT Flexibles

NKT Holding A/S 

20.09.2011 10:00

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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NASDAQ OMX Copenhagen
Nikolaj Plads 6
DK-1007 Copenhagen K


20 September 2011
Release No. 14


Since 1999 NKT Flexibles (the 'Company') has been operated as a joint venture
between NKT Holding (51%) and Subsea 7 S.A. (49%). During this period the
Company has developed a product offering including dynamic and static risers,
static flow-lines, subsea jumpers, topside jumpers and expansion joints. The
Company enjoys a strong reputation in the industry as being a highly innovative
supplier and has completed over 200 projects worldwide in all key offshore
markets including Brazil, the North Sea, West Africa, India, Australia and the
Far East. 

Medium-term NKT Flexibles is expected to further strengthen its position as a
leading manufacturer in the industry for flexible pipes. This is supported by
NKT Holding announcement No. 9 dated 30 May 2011 regarding significant order
intake. In order to meet customer demands, NKT Flexibles has initiated the
construction of a dedicated flexible pipe plant in Brazil, expected to be ready
for commercial operation during 2013. 

This achievement matches the vision set out when forming the joint venture 12
years ago. The Boards of NKT Holding and Subsea 7 S.A. therefore have decided
to initiate a formal process to explore strategic alternatives for the future
development of NKT Flexibles. The aim is to confirm whether or not the current
owners are best owners to undertake such a development. 

NKT Holding and Subsea 7 S.A. caution that the strategic review is ongoing and
that this combined with the conditions in the financial markets imply that
there is no assurance that the process will result in any specific action and
that no firm timetable has been set for the completion of the process. 

Please direct any questions to the signers.



Yours faithfully

NKT Holding A/S                                              Subsea 7 S.A.
Thomas Hofman-Bang                                       Karen Menzel
President and CEO                                            Investor Relations
Director 
Tel. +45 4348 2000                                            Tel. +44 (0) 20
82 10 55 68 


Forward-Looking Statements: Certain statements made in this announcement may
include 'forward-looking statements' within the meaning of Section 27A of the
Securities Act and Section 21E of the US Securities Exchange Act of 1934. These
statements may be identified by the use of words like 'anticipate,' 'believe,'
'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'forecast', 'project,' 'will,'
'should,' 'seek,' and similar expressions. These forward-looking statements
include, but are not limited to, statements as to the possibility of a
potential IPO or that any such transaction will occur, or the potential timing
of said transaction. The forward-looking statements reflect our current views
and assumptions and are subject to risks and uncertainties. The following
factors, and others which are discussed in our public filings and submissions
with the U.S. Securities and Exchange Commission, are among those that may
cause actual and future results and trends to differ materially from our
forward-looking statements: our ability to recover costs on significant
projects; the general economic conditions and competition in the markets and
businesses in which we operate; our relationship with significant clients; the
outcome of legal proceedings or governmental enquiries; uncertainties inherent
in operating internationally; the timely delivery of ships on order and the
timely completion of ship conversion programmes; the impact of laws and
regulations; and operating hazards, including spills and environmental damage.
Many of these factors are beyond our ability to control or predict. Given these
factors, you should not place undue reliance on the forward-looking statements. 

________________________________________________________________________________
__________________________ 

NKT Holding A/S is one of Denmark's major industrial groups with 9,200
employees and a turnover in 2010 of 14.5 bnDKK. The Group consists of NKT
Cables (the energy sector), Nilfisk-Advance (the cleaning industry), Photonics
Group (the optical industry) and the 51% owned NKT Flexibles (the offshore
sector). Read more at www.nkt.dk. 

Subsea 7 S.A. is a seabed-to-surface engineering, construction and services
contractor to the offshore energy industry worldwide. We provide integrated
services, and we plan, design and deliver complex projects in harsh and
challenging environments.
News Source: NASDAQ OMX



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Language:     English
Company:      NKT Holding A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010287663
WKN:          
 
End of Announcement                             DGAP News-Service
 
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