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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Myanmar Finds 200 Bangladeshis in Offshore Boat

Myanmar's navy found a boat carrying more than 200 Bangladeshis, the government said on Friday, after the military chief said some migrants landing in Malaysia

Two ASC Kalmar Cranes for DP World Brisbane

Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

Mergers & Acquisitions

Ferry Firm DFDS Looks to Expand

Danish ferry and transportation firm DFDS is on the takeover trail, its chief executive said, after reporting its highest first-quarter operating profit on record

HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter.

Hanøytangen Deal Reached – Again

Agreement concluded for the sale of Hanøytangen; new ownership takes over as from today   Bergen Group has reached an agreement with Semco Maritime on sale of

Middle East

WFP: Aid Cargo for Yemen will be Delivered After Ship Docks

The World Food Programme will deliver a cargo of Iranian aid for Yemen once the ship carrying it reaches Djibouti's port, the U.N agency said on Friday. Earlier

Iran Aid Ship Reaches Djibouti Waters, Waits to Enter Port

An Iranian aid ship has reached the outskirts of Djibouti's port and is waiting for a permit to enter after Tehran agreed to an international inspection of the vessel with goods for Yemen,

Italy: 900 Migrants Rescued at Sea, One Dead

More than 900 migrants were rescued in one day from three overcrowded boats en route to Europe from North Africa, an Italian coast guard official said on Thursday.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1064 sec (9 req/sec)