Brazil: Aker Solutions wraps up C.S.E acquisition
- Business & Finance
Norway’s Aker Solutions has wrapped the acquisition of a majority stake in Brazilian C.S.E. Mecânica e Instrumentação Ltda.
Aker Solutions had previously announced it would buy 70 percent share in C.S.E., for an undisclosed price.
The agreement includes an option for Aker Solutions to purchase the remaining 30 percent of the company three years from now.
The company said the acquisition would give it access to Brazil’s growing market for servicing existing oil and gas fields. The move also builds on the company’s strategy to expand the company’s services business in key international markets.
C.S.E., which had revenue of BRL 322 million in 2015, provides maintenance, assembly, commissioning and crane operation services at offshore and onshore facilities.