The Board of Ice Group AS (OTCNO:ICE) announced the spin-off of ICE Group International AS on May 31, 2018. A demerger plan was entered into on June 1, 2018. As consideration, shareholders of Ice group AS will receive one share in the de-merged entity for every share they hold in Ice group AS.

The de-merged entity will be listed on N:OTC market. In related deal, Ice group will sell stake in Nextel Holdings S.à r.l. Completion of the transaction is subject to written consent from the Board of Directors of ICE International and approval from Ice Group's shareholders. The transaction was approved by Ice Group's shareholders in the extraordinary general meeting held on June 15, 2018.