Bech-Bruun has acted as advisor in the sale of NKT Flexibles to National Oilwell Varco at a value of DKK 3.8bn.

NKT Flexibles manufactures flexible pipelines and other products for the offshore oil and gas industry and its revenues exceed DKK 1.5bn. The buyer is a multinational group headquartered in Houston, Texas, with revenues exceeding DKK 75bn. The sale has taken place via a structured auction process, which started in the fall of 2011. The transaction is subject to the approval of the competition authorities in Norway and Brazil.

Bech-Bruun has represented the sellers, NKT Holding A/S as well as Subsea7 Contracting (Norway) AS.