Aker Solutions Completes Reinertsen Acquisition
Aker Solutions has completed the acquisition of oil-services provider Reinertsen, building on its position as maintenance and modifications supplier offshore Norway. The purchase price is NOK 212.5 million (roughly $25 million). The agreement to buy Reinertsen's Norwegian oil and gas services business, announced on March 30, has also been cleared by Norway's competition authority.
Aker Solutions to Acquire Reinertsen
Norwegian oil and gas services business. The purchase price is NOK 212.5 million (roughly $25 million). The agreement excludes Reinertsen's liabilities as of December 19, 2016, when the company went into debt negotiation proceedings. Reinertsen, the third-largest maintenance and modifications supplier offshore Norway with about 700 employees, has its main offices in Trondheim and Bergen, where Aker Solutions also has a presence. The company's order backlog contains maintenance and modifications contracts with Statoil, including a minimum six-year framework agreement awarded in December