Anglo-Norwegian company KVAERNER has finally accepted the deal proposed by its competitor AKER MARITIME to merge the two groups' oil and gas operations under AKER's control. The new petrochemicals giant will achieve a turnover of EUR 2.5 bn in 2001. Russia's YUKOS oil company (KVAERNER's second biggest shareholder, holding 22% of the company's capital which was also planning a takeover of KVAERNER) has signalled that it has withdrawn its plan.