Aker Solutions sells well-intervention services business to EQT

Aker Solutions

Aker Solutions has completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund.

The unit was sold for an enterprise value of NOK 4 billion, and the agreement includes an earn-out provision where Aker Solutions will receive 25% of any internal rate of return exceeding 12% a year on EQT's equity investment. Aker Solutions will book a gain before any earn-out of NOK 1.8 billion in the first quarter of this year from the transaction.

The sale was announced on November 22, 2013.

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