Just after the clock 15.00 on Wednesday traded oil service company Aker Solutions share on the stock Exchange for 43,88 million, up 4.6 per cent for the day. Thus, the company is priced at over 11.9 billion.
Kjell Inge Røkke Aker is considering selling Aker Solutions, according to Bloomberg.
Nyhetsbyråets sources informs that the Aker will be in dialogue with Goldman Sachs to possibly advising them of a possible process. Aker themselves do not want to comment on the Bloomberg case, and adds that they never comment on speculation about possible transactions.
Experts believe that in particular the subsea part of Aker Solutions is attractive, and several companies may be interested in to devour Aker Solutions.
Estimated price of acquisitions to over 60 million shares
Analyst Tord Aasen Available in Arctic Securities has rained on which bid to a buyer of the Aker Solutions have to lay on the table.
– In our calculations, we see that the price for acquisitions may be over nok 60 per share. When the expected synergies of around 1-2 per cent of the top line, the equivalent of 300 million for subseavirksomheten, ” says Aasen Available to E24.
It is then based by the merger of Technip with the FMC in the last year, was the synergies 2 per cent of the combined topplinje in the companies.
at the same time, the analyst that the size of the synergy effects that are possible, to bring out, will depend on which company acquires Aker Solutions.
Since the State is a shareholder in Aker Solutions through Aker Kvaerner Holding, it must approve a sale of Aker Solutions.
I don’t see a problem with this given that the price is correct, but the political risk is naturally present, ” says Aasen Available.
– Significantly above the current pricing
Analyst Haakon Amundsen in ABG Sundal Collier’s assessment is that the price of the Aker Solutions by acquisition, is located above the current pricing in the market.
“Our assessment is that the price for the sale of Aker Solutions is significantly above the current pricing on the stock Exchange,” says Amundsen to E24.
He refers to that right now is the valuation of the company challenging, because the earnings in the sector is low.
– A professional seller of Aker ASA will not sell at a normal multiple-level and a cyclical low earnings. Therefore, the buyer and the seller agree on what is a reasonable future earnings, ” says Amundsen.
at the same time points out the analyst that the price also depends on which synergies and economies of scale that can be picked out by the buyer
Amundsen believes that Aker will sell if they believe that a buyer will be able to get something more out of the company than they themselves can. And then they can invest the money in something else.
– If you find the right price, the right buyer and the right structure, will you sell the company, ” says Amundsen.
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