Tuesday, March 31, 2020

Akastor sells Fjords Processing

December 18, 2016

Oslo stock exchange Courtesy Akastor

Reference is made to the stock exchange release dated October 27, 2016 regarding Akastor (AKA.OL)'s agreement to sell Fjords Processing to National Oilwell Varco (NOV).  All closing conditions have been fulfilled.  The closing of the transaction took place on December 16, 2016 according to the terms and conditions described in the release.
The transaction will realize an accounting gain of approximately NOK 650 million to Akastor, and will be recognized in the fourth quarter results.
Carnegie acted as exclusive financial adviser to Akastor, and BA-HR lawfirm as legal advisor.

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