Gets paid NOK 4.12 billion for the shares.
Less than 30 minutes ago
Updated less than 20 minutes ago
The case is updated.
Aker Carbon Capture and SLB’s (formerly Schlumberger) carbon capture business are merging and forming a joint venture company.
According to a stock exchange announcement late Wednesday evening, SLB will pay NOK 4.12 billion to Aker Carbon Capture ASA (ACC) for 80 percent of the shares in Aker Carbon Capture Holding AS (ACH). It is in the last company that the operation is located. ACC will own the remaining 20 percent of the merged company.
In addition to the purchase price, ACC will retain NOK 400 million. This corresponds to a value per ACC share of NOK 9.19.
– We are proud of what ACC has achieved and the value this agreement gives the shareholders, says Kristian Røkke, who is chairman of the board of Aker Carbon Capture and CEO of Aker Horizons, which owns 43 percent of Aker Carbon Capture ASA.
– We cannot imagine a better partner than SLB to scale up cost-effective solutions in the entire value chain for carbon capture.
ACC will also be entitled to a performance-based payment of up to NOK 1.36 billion. This will be paid in the period 2025 to 2027.
As part of the agreement, Aker Carbon Capture Holding AS will pay 50 million dollars, about NOK 540 million, for SLB’s carbon capture operations.
After a lock-in period of three years, ACC has the right to sell its remaining share of ACH to SLB during a period of six months. The sale price will be based on the market value of the combined company, with a floor of NOK 1.03 billion and a ceiling of twice this price.
The companies expect the agreement to be completed by the end of the second quarter.
