Key Developments: Aker Solutions ASA (AKSO.OL)

AKSO.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Cargotec's MacGregor completes acquisition of Aker Solutions' mooring and loading systems unit
Thursday, 30 Jan 2014 08:00am EST 

Cargotec Oyj:Says the company's MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions.Says the agreement to acquire the unit was for an enterprise value of about 180 million euros.Says the unit will be consolidated into MacGregor's results as of Feb. 1.  Full Article

Aker Solutions ASA completes sale of well-intervention services business to EQT
Thursday, 9 Jan 2014 07:48am EST 

Aker Solutions ASA:Complete the sale of its well-intervention services business area to EQT, a Swedish private equity fund.The unit was sold for an enterprise value of four billion Norwegian krones and the agreement includes an earn-out provision where Aker Solutions will receive 25 percent of any internal rate of return exceeding 12 percent a year on EQT's equity investment.  Full Article

Aker Solutions ASA wins contract Johan Sverdrup oilfield in North Sea-Reuters
Friday, 20 Dec 2013 02:29pm EST 

Aker Solutions ASA:Has won a contract to provide engineering services, procurement and management assistance for the Johan Sverdrup oilfield in the North Sea, the firm said on Dec. 20-Reuters.The first contract awarded as part of the deal is worth 650 million Norwegian crowns ($105.54 million) and involves the supply of FEED, or front-end engineering and design, for Johan Sverdrup.  Full Article

Aker Solutions expects to divest oilfield unit within a year-Reuters
Wednesday, 4 Dec 2013 07:11am EST 

Aker Solutions ASA:Hopes to divest its oil field services division in the next 12 months, although it may be sold off in several pieces-Reuters.Evaluates different spin-offs.Sets no specific target date but estimates the spin-offs to be realized within one year's time.  Full Article

Aker ASA reaches direct holding in Aker Solutions of about 6 percent
Wednesday, 27 Nov 2013 02:43am EST 

Aker ASA:Says has acquired 16,440,000 shares in Aker Solutions ASA at a price of NOK 115 per share.Says now holds directly 16,440,000 shares (about 6 percent of the share capital) in Aker Solutions.Says owns 70 percent of shares in Aker Kvaerner Holding AS, which in turn owns 40.3 percent of the outstanding shares in Aker Solutions.  Full Article

Aker ASA intends to acquire 6 percent in Aker Solutions ASA
Tuesday, 26 Nov 2013 10:36am EST 

Aker ASA:Says intends to acquire about 16.5 million shares (about 6 percent of the share capital) in Aker Solutions ASA, but with the possibility for Aker ASA at its full discretion to increase or decrease the number of shares to be acquired (the Offer).Says book building process commences immediately, and will close no later than at 08:00 CET, Nov. 27.Says if an acquisition is to be completed, pricing and allocation will follow shortly thereafter.Says allocation will then be made on Nov. 27, and settlement will then take place on Dec 2.Says has engaged ABG Sundal Collier Norge ASA and Arctic Securities ASA as Managers in connection with the contemplated acquisition.  Full Article

Aker Solutions ASA Sells Well-Intervention Services Business To EQT
Friday, 22 Nov 2013 10:05am EST 

Aker Solutions ASA announced that it has agreed to sell its well-intervention services business area to EQT, a Swedish private equity fund, for an enterprise value of NOK 4 billion. The agreement includes an earn-out provision where Aker Solutions will receive 25% of any internal rate of return exceeding 12% a year on EQT's equity investment. Aker Solutions will book a gain before any earn-out of between NOK 1.8 billion and NOK 1.9 billion from the transaction, which is predominantly structured as a share sale.  Full Article

Aker Solutions ASA Wins Two-Year Option Extension From Statoil
Friday, 22 Nov 2013 06:10am EST 

Aker Solutions ASA announced that it has secured a two-year option agreement extension valued at NOK 3 billion from Statoil ASA to provide maintenance and modifications work offshore Norway. The option is part of a 2010 framework agreement to provide maintenance and modifications work on the Statoil-operated offshore installations Snorre A/B, Gullfaks A/B/C, Visund and ├ůsgard A/B. The agreement was for an initial four years with extension options for a total of four years. The extension is from August 2014 to August 2016. The contract includes engineering, procurement, construction and installation (EPCI) modification work, as well as corrective maintenance and studies.  Full Article

Cargotec Oyj's MacGregor to Acquire Aker Solutions ASA's Mooring and Loading Systems Unit
Wednesday, 30 Oct 2013 10:00am EDT 

Cargotec Oyj announced that the company's MacGregor has entered into an agreement to acquire Aker Solutions ASA's mooring and loading systems unit for an enterprise value of approximately EUR 180 million. The unit, known by the Pusnes brand name, provides mooring equipment, loading and offloading systems as well as a wide range of deck machinery for the global offshore and shipping markets. The Pusnes business was founded in 1875, and is headquartered in Arendal, Norway. The acquisition is subject to regulatory approvals from competition authorities and it is expected to be completed in the first quarter of 2014.  Full Article

Aker Solutions ASA Secures Contract For Johan Castberg Floater Study
Wednesday, 21 Aug 2013 02:01am EDT 

Aker Solutions ASA announced that it has won a contract from Statoil to conduct an extended concept study for the floater for the Johan Castberg oilfield development in the Barents Sea. The contract, worth NOK250 million, includes options for further work.  Full Article

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