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Aker Solutions will receive $700 million in cash and Schlumberger stock as part of the deal, and expects to book a profit of around $1 billion at the time of closing, the Norwegian company said.
The deal will leave Schlumberger with a 70% stake in the planned joint venture while Aker Solutions gets 20% and Subsea 7 10%, the companies said in a joint statement.
The combined business will have approximately 9,000 employees globally, and the estimated synergy potential is more than $100 million per year in the medium term, they added.
The transaction is expected to close in the second half of 2023.
