BRIEF-Aker Carbon Capture Says Agreement To Form Joint Venture With SLB
Dow Jones Industrial Average DJI | 0.00 | |
SLB Limited SLB | 0.00 | |
S&P 500 index SPX | 0.00 | |
NASDAQ IXIC | 0.00 | |
ACACIA DIVERSIFIED HOLDINGS INC ACCA | 0.00 |
March 27 (Reuters) - Aker Carbon Capture Asa ACCA.OL:
AKER CARBON CAPTURE ANNOUNCES AGREEMENT TO FORM JOINT VENTURE WITH SLB
: SLB WILL PAY NOK 4.12 BILLION IN CASH TO ACC FOR PURCHASE OF 80% OF SHARES IN AKER CARBON CAPTURE HOLDING AS
IN ADDITION, ACC WILL BE ENTITLED TO A PERFORMANCE-BASED PAYMENT OF UP TO NOK 1.36 BILLION.
FOLLOWING TRANSACTION, SLB WILL OWN 80% OF COMBINED BUSINESS AND ACC WILL OWN 20%
SUM OF PURCHASE PRICE FOR ACCH AND RETAINED CASH CORRESPONDS TO A VALUE PER ACC SHARE OF NOK 9.19
: ACC WILL BE ENTITLED TO A PERFORMANCE-BASED PAYMENT OF UP TO NOK 1.36 BILLION
ACCH WILL PAY USD 50 MILLION TO PURCHASE SLB'S CARBON CAPTURE BUSINESS
ACCH WILL PAY USD 50 MILLION TO PURCHASE SLB'S CARBON CAPTURE BUSINESS
PAYMENTS WILL BE DUE WHEN CERTAIN TARGETS ARE MET IN PERIOD 2025 TO 2027, WEIGHTED TOWARDS END OF PERIOD UPON FINALIZATION OF FINANCIAL STATEMENTS FOR 2027
AKER CARBON - AFTER A LOCK-UP PERIOD OF THREE YEARS, ACC WILL BE ENTITLED TO SELL ITS STAKE IN ACCH TO SLB DURING A PERIOD OF SIX MONTHS (PUT OPTION)
AKER CARBON CAPTURE ANNOUNCES AGREEMENT TO FORM JOINT VENTURE WITH SLB
Source text for Eikon: ID:nWkr3n5h7Q
Further company coverage: ACCA.OL
((Reuters.Briefs@thomsonreuters.com;))