Aker Solutions - proposed acquisition of NPS Energy

  • 21 May 2012
 

Slaughter and May, working as an integrated team with BA-HR, is advising Aker Solutions on the proposed acquisition of NPS Energy which is part of oilfield services company National Petroleum Services for approximately US$350 million including US$110 million in net interest bearing debt.

NPS Energy has a strong presence in the Middle East and North Africa, which combined hold approximately 60% of the world's proven oil and gas reserves. A new engineering office will be established in the United Arab Emirates to tie the entire Aker Solutions offering together in a whole.

The proposed acquisition, which was announced on 21 May 2012, will be funded by Aker Solutions own resources and is expected to be completed by the end of this year or early next year.

Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry world-wide. It employs approximately 23,500 people in more than 30 countries.The company is listed on the Oslo Stock Exchange.

 
 

Contacts

 

Corporate and Commercial: Tim Boxell (partner), Jonathan Wiseman (associate); Tax: Gareth Miles (partner), James Hume (associate)

BA-HR: Corporate and Commercial: Svein Gerhard Simonnæs (partner), Jon Christian Thaulow (partner)

 
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