Altrad offers 41.5 Norwegian crowns per share (Il Sole 24 Ore Radiocor) - Oslo, 21 Aug - Beerenberg, a Norwegian provider of services to the oil and gas industry, said that its board has unanimously decided to recommend a cash offer made by the French group Altrad Group valuing the company's equity at more than 1 billion crowns.

Altrad is offering 41.5 Norwegian crowns per share.

'We have admired Beerenberg from a distance for many years and have been impressed by the achievements of the management team and their talented people. Our objective is to add to this success by adding investment, skilled people, innovative products, and a broader range of services to support their clients' ambitions,' said Altrad's co-CEO, Ran Oren.

The transaction is likely to conclude towards the end of 2024, Altrad added.

Altrad already has a 24.7% stake in Beerenberg.

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(RADIOCOR) 21-08-24 18:54:54 (0458) 5 NNNN