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

Global Ship Lease Extends TC with CMA CGM

Photo: CMA CGM

Global Ship Lease, a containership charter owner, announced that it has agreed to an extension of

Diana Shipping Enters into TC Contract with Uniper

Photo: Diana Shipping Inc.

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

Nordic American Tankers Signs TC with Cepsa

Photo: Nordic American Tankers

Nordic American Tankers has announced that it entered into an one-year term charter with the

Energy

Nordic American Tankers Signs TC with Cepsa

Nordic American Tankers has announced that it entered into an one-year term charter with the major Spanish oil company Cepsa for a ship.   The company says  is the 2004 built

SBM Offshore Hands over FPSO Turritella to Shell

Turritella (Photo: Shell)

SBM Offshore said it has completed the transaction related to the sale of floating production

BP Deepwater Horizon Costs Balloon to $65 Billion

Response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon April 21, 2010 (File photo: U.S. Coast Guard)

BP said on Tuesday it would take a new charge over the 2010 Deepwater Horizon spill after again

Maritime Apps