Oil and gas services company Aker Solutions said Friday it has sold its stake in Quality Hotel Expo in Fornebu outside of Oslo for $80 million.
The Norway-based company divested its 93 percent holding in the property to Fornebu Hotellinvest AS, a syndicate set up by Pareto Project Finance AS.
Aker Solutions — formerly Aker Kværner — said it will book a gain in the second quarter of about $16.5 million after taxes and transaction costs.
The hotel was built by Aker Solutions in 2012 and has an 18-year remaining lease contract guaranteed by Choice Hotels and Resorts AS.
The subsea technology specialist employs about 28,000 people in more than 30 countries.
It has annual revenues of about $7 billion.