November 22, 2013 / 3:16 PM / 4 years ago

Aker Solutions sells well intervention business in $654 mln deal

OSLO, Nov 22 (Reuters) - Oil services firm Aker Solutions has agreed to sell its well intervention business to Swedish private equity firm EQT for an enterprise value of 4 billion crowns ($654.31 million), it said on Friday.

Aker Solutions will book a gain before any earn-out of between 1.8 billion and 1.9 billion crowns from the deal, which is predominantly structured as a share sale, it added.

“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,” Aker Solutions said. ($1 = 6.1134 Norwegian krones) (Reporting by Balazs Koranyi)

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