WorleyParsons to Acquire Norway's Bergen Group Rosenberg

WorleyParsons revealed Thursday that it has acquired Norway's Bergen Group Rosenberg for a cash consideration of $194 million. Completion of the acquisition is expected by the end of February 2013, WorleyParsons noted in its disclosure.

Rosenberg, a fully-integrated engineering, fabrication and construction company, is based in Norway's oil capital, Stavanger. The company employs around 650 people. 

"Rosenberg provides the ideal platform for us to expand our presence in the Norwegian Continental Shelf offshore oil and gas market. I am excited that this acquisition will continue to strengthen and grow our ability to support our hydrocarbons clients [in the region]," WorleyParsons' CEO Andrew Wood, said in a statement.

"The acquisition of Rosenberg is a strategic beachhead into Norway for WorleyParsons and our focus is very much on continued growth, which is good news for Rosenberg employees," a spokesperson representing WorleyParsons told Rigzone. 

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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