All Conditions Met for Aker Solutions, Kvaerner Merger


November 9, 2020
Credit, Aker Solutions

Credit, Aker Solutions

Two Norwegian offshore energy services firms Aker Solutions and Kvaerner said Monday that all conditions had been met for their proposed merger to proceed.

The two companies announced the proposed merger in June. Under the terms, Aker Solutions will absorb all the assets, rights, and obligations of Kvaerner, and Kvaerner will be dissolved.

In two separate statements on Monday, Kvaerner and Aker Solutions said that all governmental approvals and other third-party consents required for completion of the merger had been obtained, meaning that all conditions for completion of the Merger have been met. 

Eligible shareholders in Kvaerner will receive 0.8183 Consideration Share for each share in Kvaerner they own as at the expiry of the date of registration of the completion of the merger, which is expected to occur on or about November 10, 2020.

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