Aker Sells Remaining Stake in Lewek Connector Vessel

Norwegian oilfield services firm Aker Solutions announced Thursday that it has sold its remaining stake in the ship Lewek Connector.

Aker said that its AMC Connector joint venture with Emas Offshore had agreed to sell the subsea construction and cable-lay vessel to Ocean Yield for $315 million.

The sale is part of Aker's plan announced in October 2010 to sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings, which operates in the offshore construction market under the Emas AMC brand name. As part of this transaction Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel-owning company AMC Connector.

The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions, which has since focused on streamlining itself to become a fully-fledged provider of oilfield products, systems and services.

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