* Ratos and AP 6 fund buy 50 pct stake
* Norway's Ferd to hold remaining shares
* Deal values Aibel at $1.5 bln
* Deal seen completed in Q1, 2013
STOCKHOLM, Dec 18 Private equity group Ratos
and a Swedish pension fund said on Tuesday they would
jointly buy a 50 percent in stake in Norwegian oil services
group Aibel in a deal valuing the company at 8.6 billion crowns
The deal would see Norwegian industrial and financial group
Ferd, which at present directly and through a private equity
fund owns 80 percent of Aibel, hold a 50 percent stake in the
Aibel has about 8,000 employees and provides services within
the oil, gas and renewable energy sectors, with major oil
companies operating on the Norwegian continental shelf as its
main customers, Ratos said in a statement.
"Aibel operates in a market with strong growth, has
long-term customer relationships, a unique business model, a
strong order book and a dedicated management team, which makes
this a very attractive investment for Ratos," Ratos Chief
Executive Susanna Campbell said in a statement.
Under the terms of the deal, Ratos will own 32 percent, the
Sixth AP Fund 18 percent and Ferd the remainder. Ratos and the
Sixth AP Fund will invest via a jointly owned company which will
be represented by Ratos on Aibel's board, Ratos said.
Aibel is expected to generate sales of more than 10 billion
Norwegian crowns this year with an operating margin (EBITDA) of
about 9 percent, Ratos said.
The deal is subject to approval from the relevant regulatory
authorities and is expected to be completed during the first
quarter of 2013.
(Reporting by Niklas Pollard)