Aker Kvaerner, the Norwegian oil, gas and shipyard group, is to split into three in a complex restructuring and refinancing.
The move comes after pressure from Aker Kvaerner creditors and a legal battle with shareholders in Aker RGI, the company controlled by Norwegian industrialist, Kjell Inge Rokke, who took over Kvaerner in 2001 after a hostile bid.
Its oil and gas and engineering and construction interests are to be placed in a new company which is taking over the Aker Kvaerner ASA name.
