Ratos AB: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Ratos AB and Ferd Acquire Aibel
Ratos AB announced that the Company and the Sixth AP Fund together with the Norwegian industrial and financial group Ferd, have signed an agreement to acquire all the shares in Aibel. Ratos will own 32% of Aibel, the Sixth AP Fund 18% and Ferd 50%. Ratos and Sixth AP Fund will invest via a jointly owned company which will be represented by Ratos on Aibel's Board. Ferd and Ratos will represent 50% each of the ownership in Aibel. The purchase price for 100% of Aibel amounts to approximately NOK 8,600 million and Ratos will provide equity of approximately NOK 1,400 million. The final amount invested by Ratos will be affected by cash flow until closing. Aibel is a Norwegian service company within oil, gas and renewable energy. The company has approximately 8,000 employees, of which 2,400 are temporary staff, and operations along the entire Norwegian coast as well as in Asia. In 2012, Aibel's sales will total over NOK 10 billion with an EBITDA-margin of approximately 9%. Ratos is making this acquisition via a company owned jointly with Sixth AP Fund. Ferd currently owns 80% of Aibel, directly and via its investment in Herkules Private Equity Fund II. In the new ownership structure Ferd will own 50% of Aibel while Herkules sells its entire holding. The acquisition is subject to approval from the relevant regulatory authorities and is expected to be completed during the first quarter of 2013.
Latest Key Developments in Investment
- Share this
- Digg this