Norway Should Invest in Kongsberg Share Issue -Government

Friday, September 28, 2018

Norway should invest about 2.5 billion Norwegian crowns ($306.26 million) in Kongsberg Gruppen's planned share issue, to help pay for the firm's acquisition of Rolls-Royce's Commercial Marine unit, the government proposed on Friday.

If approved by parliament, the proposal would allow the government to uphold its stake of 50.01 percent in Kongsberg Gruppen.

The acquisition and the government's intention to take part in a share issue were first announced in July.


($1 = 8.1631 Norwegian crowns)

(Reporting by Terje Solsvik, editing by Nerijus Adomaitis)

Categories: Technology Marine Propulsion Finance Marine Power Marine Equipment Vessels Government Update Mergers & Acquisitions Europe Automation

Current News

Jadestone Shutting Down Montara FPSO Output to Fix Tank Issues

Nigeria's NNPC Renews Oil Contracts to Produce 10 Bln Barrels

Repair to Oil Pipe that Shut U.S. Offshore Output Due by End of Day

Sapura Energy Wraps Sale of Sapura 3000 Pipelayer

Subscribe for OE Digital E‑News