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Norsk Hydro To Divest Rolling Business Area To KPS Capital Partners In €1.38 Bln Deal
Category: Business News
Norwegian aluminium and renewable energy company Norsk Hydro ASA (NHY, NHYDY.PK, NHYDY.PK) Friday said it has entered into an agreement to sell its Rolling business to KPS Capital Partners for 1.38 billion euros on an enterprise value basis. Hydro said the agreed deal price would result in a reduction of 856 million euros in pension […]
Source: Nasdaq
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New US Work Visa Restrictions Impact Schengen Area Executives
Category: Business News
On March 2, 2021, the Secretary of State rescinded the previous national interest determination regarding categories of travelers eligible for exceptions under Presidential Proclamation (PP) 10143 as related to the Schengen Area, United Kingdom, and Ireland. The previous national interest determination covered certain technical experts and specialists, senior-level managers and executives, treaty-traders and investors, professional […]
Source: US Department of State
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Baker Hughes and Akastor ASA announce joint venture company
Category: Business News
Baker Hughes (NYSE:BKR) and Akastor ASA (Oslo:AKAST) have announced an agreement to create a joint venture company (Company) that will bring together Baker Hughes’ Subsea Drilling Systems (SDS) business with Akastor’s wholly owned subsidiary, MHWirth AS (MHWirth). The Company will deliver a global full-service offshore drilling equipment offering that will provide customers with a broad […]
Source: bakerhughes.com
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Norwegian Air subsidiary files Chapter 7 bankruptcy, lays off South Florida workers
Category: Airline / Travel
The U.S. affiliate of a large international airline filed for Chapter 7 bankruptcy Feb. 12. Fort Lauderdale-based Norwegian Air Resources US Inc. filed for bankruptcy in the U.S. Bankruptcy Court for the Southern District of Florida, according to court filings. The filing is part of a larger reorganization strategy from parent company Norwegian Air Shuttle, […]
Source: Bizjournals
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Norway Sees Dramatic Drop in Interest for Arctic Oil Exploration
Category: Business News
Interest in oil exploration in the Norwegian Arctic has dropped dramatically following years of disappointing drilling results. Only seven oil companies applied for new acreage in the Barents Sea in the latest licensing round, down from 26 in a similar round in 2013. The continued decline will be a blow to the government, which had […]
Source: Bloomberg
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