Aker ASA plans to dispose of its stake in Aker Solutions ASA, according to sources familiar with the matter.

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.

Subsea 7 will hold 100% interest in Seaway Heavy Lifting upon completion of the acquisition.”

Subsea 7 S.A. intends to acquire the remaining 50% interest in Seaway Heavy Lifting Holding Limited from K&S Baltic Offshore (Cyprus) Limited.

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.

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EnerMech Ltd. has completed the acquisition of EPS Group Inc., with financial assistance from Bank of Scotland plc, HSBC and DNB ASA.

The acquisition allows EnerMech to expand its products and services portfolio.