German Anti-Trust Authorities OK Aker's Wirth Acquisition
Aker Solutions' acquisition of Wirth GmbH has received anti-trust clearance today, and Wirth formally became a part of Aker Solutions.
Wirth's technology complements Aker Solutions' portfolio of drilling equipment products and technology. In August 2007, Aker Solutions acquired 50% of the shares in Wirth, with an option to buy the remaining stocks. On January 28, Aker Solutions entered into an agreement to acquire the remaining 50% share in the German company and awaited anti-trust clearance for the transaction. Today's announcement, confirms Aker Solutions' control of Wirth.
The relationship between Aker Solutions and Wirth has been very successful for nearly two decades. The drilling rig market provides significant business opportunities for Aker Solutions, and the integration of Wirth's portfolio further strengthens the lifecycle services offering.
"Full integration of Wirth enables us to accelerate and further optimise our products and services offering to our customers," said Per Harald Kongelf. "Today's formal approval by the German authorities of this acquisition allows us to complete the integration of the two companies." said Per Harald Kongelf, executive vice president in Aker Solutions.
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