# Aker Solutions to absorb Kvaerner, spin off renewable businesses

Aker ASA plans to combine Aker Solutions and Kvaerner, and spin off Aker Solutions' offshore-wind and carbon-capture businesses into a new renewable energy hub called Aker Horizons. Aker also proposes to acquire wind developer NBT AS for NOK 3.1 billion.

- Type: Acquisition
- Announced: 2020-07-17
- Where: Norway
- Value: $333.0M
- Status: announced
- Products: offshore wind, carbon capture
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Aker Solutions](https://endata.com/companies/1742.md)
- [Aker Solutions](https://endata.com/companies/1742.md) (acquirer)
- [Kvaerner](https://endata.com/companies/6626.md) (partner)
- [Kvaerner](https://endata.com/companies/6626.md) (target)
- [Aker ASA](https://endata.com/companies/37926.md) (investor)
- [Kværner](https://endata.com/companies/43015.md) (target)
- [NBT AS](https://endata.com/companies/48642.md) (target)

## Sources

- [worldoil.com](https://www.worldoil.com/news/2020/7/17/aker-solutions-kvaerner-transform-to-seize-renewable-energy-opportunities/), 2020-07-17: "At a time when renewables have developed from niche technologies to global industries, Aker's ambitions exceed the announced spin-offs in Aker Solutions."
- [prnewswire.co.uk](https://www.prnewswire.co.uk/news-releases/contemplated-merger-between-kvaerner-asa-and-aker-solutions-asa-809974355.html), 2020-07-17: "By combining the two companies and their complementary resources, we will be able to deliver a more complete offering to a global energy industry."
- [reuters.com](https://www.reuters.com/article/business/norways-aker-solutions-announces-merger-with-kvaerner-new-ceo-idUSKCN24I1T5/), 2020-07-17: "The merger will create an organisation with the required size and financial strength to compete and succeed in the growing market for renewable and sustainable energy."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.