Aker Solutions offers engineering, design, production systems and services to the oil and gas industry.
Aker ASA currently holds more than 33.33% interest in Aker Solutions, through a holding company.
The company has offered a cash consideration of $319m, which includes an initial payment of $279m and a deferred payment of up to $40m, for the acquisition.
Subsea 7 will hold 100% interest in Seaway Heavy Lifting upon completion of the acquisition.
The acquisition allows EnerMech to expand its products and services portfolio.