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.


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