Akastor, NOV close Fjords deal

Dec. 16, 2016

Akastor ASA has reported that all closing conditions have been fulfilled in its deal to sell Fjords Processing to National Oilwell Varco.

Offshore staff

OSLO, Norway – Akastor ASA has reported that all closing conditions have been fulfilled in its deal to sell Fjords Processing to National Oilwell Varco.

Fjords offers process support systems for gas, oil and water, and Akastor said that, under its ownership, the company streamlined operations, expanded its footprint in key regions, and produced record financial results.

First announced in late October, the transaction will realize an accounting gain of approximately NOK 650 million ($748 million) to Akastor.

Carnegie acted as exclusive financial adviser to Akastor, and BA-HR lawfirm as legal adviser.

12/16/2016