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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kvaerner Asa | LSE:KVR | London | Ordinary Share | NO0004684408 | ORD NOK12.50 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9267L Kvaerner ASA 22 October 2001 Kvaerner enters into an agreement in principle to sell activities to Yukos Oil for US$100 million LONDON, 22 OCTOBER 2001: Kvaerner, the Anglo-Norwegian engineering and construction Group, today announced that is has reached an agreement in principle to sell Kvaerner Oil & Gas' London based Hydrocarbons business and Kvaerner Process Technology, to Yukos Oil Company of Russia. The total consideration for the sale amounts to US$100 million to be paid in cash upon conclusion of a final agreement. Kvaerner Hydrocarbons, part of the Group's Oil & Gas business area, provides engineering services, mainly to onshore oil and gas projects. The business employs approximately 600 people, the majority of which located in London. The sale of Kvaerner Process Technology includes Kvaerner Heurty. Both of these businesses are part of the Kvaerner E&C business area, and are engaged in research, development, testing and the sale of process technologies and equipment. These businesses employ approximately 375 people located in the UK, Switzerland, France and Italy. The sale is subject to satisfactory completion of due diligence, final agreement, and to approval both by the current Kvaerner Board - and the Board expected to be elected on November 2nd. The sale is also subject to certain other necessary approvals. The final sale agreement is expected to be entered into by the end of November and the sale completed as soon as possible thereafter. For further information: Paul Emberley, Vice President, Group Communications, Kvaerner PLC: +44 (0)20 7339 1035 or +44 (0)7768 813090 or paul.emberley@kvaerner.com Notes to editors: Kvaerner is a world-class Anglo-Norwegian engineering and construction Group. It meets the needs of its customers by adding value to their business - through the provision of innovative, cost-effective solutions - for challenges in the hydrocarbons, process and metals industries. The Group's activities are currently organised in two core business areas: E&C (Engineering and Construction), and Oil & Gas. Kvaerner is a Norwegian registered business, but has a London, UK-based international headquarters. The Group has annual revenues in excess of US$6 billion, with some 35,000 permanent staff located in almost 35 countries throughout Europe, Africa, Asia and the Americas.
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