Current FET Stock Info

By Tyler Losier, Energy Reporter, Oil & Gas 360

Forum Energy Technologies to sell its aggregate 40% interest in Ashtead Technology for $39 million
Forum Energy Technologies Inc. (stock ticker: FET), a global oilfield products company, has entered into a definitive agreement through its subsidiaries to sell an aggregate 40% interest in Ashtead Technology, a subsea rentals company, to majority interest-owner Buckthorn Partners and other investors.

Total consideration for Forum’s stake, as well as a 3 million British pound sterling (GBP) loan provided to Ashtead by Forum, will be $47.8 million. At close, Forum will receive approximately $39 million in cash proceeds, in addition to a new, approximately GBP 7 million loan with thr...

Legal Notice