Aker Solutions is to be sold out of the country

Aker Solutions Headquarters ReinertsenAker Solutions Headquarters. Photo Norway Today Media

The Aker Group, owned by Kjell Inge Røkke, is about to sell the oil services company Aker Solutions to US based Halliburton, according to Finansavisen.

The negotiations with Halliburton for the sale of all or part of Aker Solutions has been going on for a while time, a source in the financial newspaper said. Now a deal is ready to be signed.

Communications Director for Aker, Atle Kigen, will not confirm anything, but says that the investment company regularly speak to others about “ideas and opportunities.”

– We have a good dialogue with several [companies], but will neither confirm nor deny who we are talking to or have talked to, says the Communications Director.

Since the first speculations about a possible sale of Aker Solutions emerged two months ago, the share price of the company has risen about 20 percent and is now at around NOK 48 per share.

The Norwegian State has indirect ownership of Aker Solutions through its stake in Røkke’s Aker Holding. Sale of the holding company’s ownership of the oil service company, therefore it is implied that the two parties are in agreement.

– How the government will react to any request to the sale of the state’s shares in Aker Holding or an inquiry involving the underlying companies, will depend on an individual assessment of each case, Minister of Economics, Monica Mæland, told Finansavisen.

She refers to the ownership report which states that “the state and Aker is committed to keep the ownership of respectively Akastor, Aker Solutions and Kvaerner for a minimum period of ten years”. This agreement expires on June 22nd of this year.


Source: NTB scanpix / Norway Today