Aker Solutions Completes Sale of Well-Intervention Services Business to EQT
January 9, 2013 - Aker Solutions completed 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 NOK 4 billion 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. Aker Solutions will book a gain before any earn-out of NOK 1.8
billion in the first quarter of this year from the transaction.
The sale was announced on November 22, 2013.
For further information, please contact:
Bunny Nooryani, Chief Communications Officer, Aker Solutions
Tel: + 47 67 59 42 71, Mob: + 47 48 02 75 75, E-mail:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions.
Tel: +47 67 51 30 39, Mob: +47 91 13 71 94, E-mail:
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Aker Solutions provides oilfield products, systems and services for customers in
the oil and gas industry world-wide. The company's knowledge and technologies
span from reservoir to production and through the life of a field.
Aker Solutions brings together engineering and technologies for oil and gas
drilling, field development and production. The company employs approximately
28 000 people in more than 30 countries. We apply the knowledge and create and
use technologies that deliver our customers' solutions.
Aker Solutions ASA is the parent company in the group, which consists of a
number of separate legal entities. Aker Solutions is used as the common brand
and trademark for most of these entities. In 2012 Aker Solutions had aggregated
annual revenues of approximately NOK 45 billion. The company is listed on the
Oslo Stock Exchange.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
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Source: Aker Solutions ASA via GlobeNewswire