A PYMNTS Company

Sweden: Marine equipment producer inks $2B buyout deal

 |  April 8, 2014

Sweden-based marine equipment maker Alfa Laval announced it has reached an agreement to acquire the underwater pumping systems operations of Norway-based Frank Mohn in a deal worth about $2.18 billion, say reports.

Alfa Laval is set to purchase the brand Framo as it looks to expand its fluid handing abilities, according to a press release, which said Alfa Laval has followed Frank Mohn “for several years.”

The majority of the company’s current operations regards services to ships and offshore oil and gas production units.

The deal remains subject to regulatory approval.

Full Content: Alfa Laval

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.