Aker Maritime Trims Kvaerner Purchase Plans

Tuesday, December 12, 2000
Norwegian oilfield services firm Aker Maritime will take a 17.8 percent stake in Anglo-Norwegian engineering group Kvaerner this month after consulting the European Commission. Aker Maritime had previously agreed to buy a 26.7 percent stake, or a total of 28.5 million shares of Kvaerner, prompting an in-depth four-month investigation by the EC. A smaller stake, however, means that the EC will close its investigation into the effects on competition of a possible merger of the two companies, Aker said. The deal, making Aker Maritime the largest shareholder of Kvaerner ... "does not represent a controlling interest according to the EC's definitions, and the matter therefore falls outside the commission's authority according to the European Union's merger regulations," it said. Aker Maritime will acquire 11.6 million of Kvaerner shares from Norwegian ship owner Bergesen on December 19 and a further 7.4 million shares through the exercise of options on December 22, raising its total shares to 19 million.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

HMS Prince of Wales Bridge Sets Sail

The bridge section of the second Queen Elizabeth Class aircraft carrier set sail today from Glasgow on its first sea voyage to Rosyth.   Upper Block 07 is where

The German Shipbuilding Rebound

German shipbuilding has made a significant turnaround. The country’s shipbuilding industry has seen increases in the number of employees, orders and deliveries compared to 2013,

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

 
 
Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.1259 sec (8 req/sec)