Kongsberg Maritime buys Berg Propulsion

AI Summary

Kongsberg Maritime agreed to acquire Swedish propulsion specialist Berg Propulsion to broaden its commercial vessel reach and deepen aftermarket business. The transaction is priced around Kongsberg's current market valuation and awaits regulatory approval.

Kongsberg Maritime has agreed to acquire Swedish propulsion specialist Berg Propulsion in a deal designed to broaden its reach across commercial vessel segments and deepen its aftermarket business. Financial terms were not disclosed. Kongsberg said the transaction is priced at approximately the same EV/EBITDA level as its own current market valuation and remains subject to …