rss icon Subscribe
desktop mobile

Aker Solutions, Kvaerner mull 2017 M&A

Posted by Joseph Keefe

Norwegian billionaire investor Kjell Inge Roekke aims to change the ownership of one of more of his companies in the oil services industry this year, he wrote in his annual letter to shareholders on Friday.

Through his Aker ASA holding company, Roekke is the top owner of several major suppliers to the oil industry, including Aker Solutions and Kvaerner.
Shares of Aker Solutions rose sharply last month following media reports the firm could soon be sold to U.S. competitor Halliburton.
"We're open to building larger, stronger companies together with others, or to partly or fully divest," Roekke wrote on Friday, adding it was still too early to conclude what would be best.
"It's through transactions that Aker created the greatest shareholder value ... Therefore I hope and believe that during 2017 there will be changes to the ownership structure in one or more of Aker's partly-owned oil industry suppliers," he added.
The oil-to-fisheries investor, one of Norway's richest with a net wealth of $2 billion according to business magazine Kapital, last year made headlines when his oil firm bought BP's Norwegian unit, forming Aker BP in a $1.3 billion cash and shares deal.
Reporting by Terje Solsvik

Apr 21, 2017

 

Contracts

Metal Shark Wins $54 Mln US Navy Contract

Image: Metal Shark

Louisiana-based shipbuilder Metal Shark said it has been awarded a contract worth up to $54

KOGAS to Receive first Cheniere LNG Cargo

File Image: A typical LNG Carrier at Sea (CREDIT: MISC)

KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract.

Diana Shipping in Time Charter Contract for Clio with Phaethon

M/v Clio. Photo:  Diana Shipping Inc

Diana Shipping has announced that, through a separate wholly-owned subsidiary, it has entered

Energy

YPF Says Technology Lowering Its Shale Costs

Longer horizontal wells and technology improvements will help Argentine state-run oil company YPF SA lower costs at its most productive shale field, but better infrastructure is

US Oil Rig Count Climbs for 23rd Week

© zorandim75 / Adobe Stock

U.S. energy firms added oil rigs for a record 23rd week in a row, extending a year-long drilling

Novatek Aims to Topple Qatar from LNG Top Spot

File photo: Novatek

Russian gas producer Novatek aims to topple Qatar as the world's biggest exporter of liquefied

Maritime Apps