Aker Pulls the Plug on NPS Energy Acquisition

Press Release
Wednesday, November 21, 2012

Aker Solutions has ended the process to acquire the Dubai-headquartered oil services company NPS Energy.

Aker Solutions announced an agreement to buy the shares in NPS Energy on 21 May 2012. The agreement was conditional upon a series of parameters being fulfilled before the end of the closing period.

The agreement stated that if the transaction had not closed by 20 November 2012, both parties had the right to terminate from 21 November 2012. Aker Solutions has today informed the seller of NPS Energy that it has terminated the agreement.

"We and the seller have not been able to reach the conditions for closing as agreed, and rather than risk increasing uncertainty, it was in the company and our shareholders' interest to terminate the transaction," says Øyvind Eriksen, executive chairman of Aker Solutions.

"We will continue to develop Aker Solutions as a more focused, global oilfield products, systems and services provider, by building on our strength in our home market and growing in a controlled manner internationally," says Eriksen.

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Kirby Corp. Announces Record 3Q Results

Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability.

Mergers & Acquisitions

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Middle East

GAC Starts Green Hull Cleaning Operations in Oman

Oman’s Ministry of Environment and Climate Affairs has granted GAC EnvironHull permission to conduct underwater hull cleaning operations using the brush-and-diver-free

Iran Gas Exports to Europe Would Take at Least 5 Years

Iran would take at least five years to start exporting natural gas to the European Union if sanctions were removed, industry experts said on Wednesday. Last month,

DBR Delivers 42 Gensets to Damen

DBR has delivered the last units of an order totaling 42 marine generator sets for Damen Shipyards Gorinchem. The generator sets will be installed on 14 ASD tugs

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1233 sec (8 req/sec)