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

Related Stories

Cadeler Secures Vessels Reservation Deal with Mistery Client Worth Up to $760M

Havfram to Install Wind Turbines at Iberdrola’s Windanker Project

Expro Acquires Drilling Tools and Wellbore Services Firm Coretrax

Current News

Rentel Offshore Wind Farm Cable Goes Back Online

Ipieca Names ExxonMobil’s Paul Krishna as New Chair

Oil and Gas Firm Santos Taps Japan's Hokkaido Gas for LNG Supply

Cargotec Proceeds with MacGregor Sale as Offshore Wind Dispute Gets Resolved

Subscribe for OE Digital E‑News