ABL Group ASA (OB:ABL) acquired AGR Petroleum Services Holdings AS from Akastor ASA (OB:AKAST).
ABL Group ASA (OB:ABL) completed the acquisition of AGR Petroleum Services Holdings AS from Akastor ASA (OB:AKAST) on April 18, 2023. ABL Group issued 18,166,667 shares to Akastor's wholly owned subsidiary RGA Energy Holdings AS ("RGA Energy"), of which 2/3 will be transferred to Nordea and DNB (with 1/3 issued to each bank) as settlement of the loans they previously had against AGR AS. RGA Energy will retain 1/3 of the consideration shares 6,055,556 which equals an ownership share in ABL of about 4.9%. All consideration shares are subject to a 12 month lock-up period. As a part of cash consideration NOK 5.3 million remained for payment at completion.