£40M WIND­FALL FOR OIL BOSS AF­TER ABERDEEN FIRM BUY­OUT

The Herald Business - - Themonthinheadlines -

De­cem­ber14BobKeiller,

chief ex­ec­u­tive of Aberdeen-based Pro­duc­tion Ser­vices Net­work (PSN), is to re­ceive close to £40mas man­agers at the com­pany pre­pare for a £150mwind­fall on its ac­qui­si­tion by ri­val Gran­ite City oil ser­vices com­pany Wood­Group. Wood­Group is pay­ing a com­pany record $955m (£633m) for PSN. This in­cludes $325mof debt. Man­age­ment and staff, who­have just in ex­cess of 40% of PSN’s shares, will re­ceive in to­tal about £158m.

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