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Aker to sell Aker Yards shares

Aker has decided to offer up to 40.1 percent of Aker Yards' shares. Aker Yards' Group management will participate in meetings with potential investors in cooperation with Aker's financial advisors for the share divestiture.

Aker has decided to offer up to 40.1 percent of Aker Yards’ shares. Aker Yards’ Group management will participate in meetings with potential investors in cooperation with Aker’s financial advisors for the share divestiture.

– We will participate actively in the sales process for Aker’s shares so that it is completed to the benefit of all Aker Yards shareholders, says President and CEO of Aker Yards Karl Erik Kjelstad.

Kjelstad notes that Aker Yards’ main shareholder during the shipyard group’s development in recent years has decided to sell up to 40.1 percent of Aker Yards stock. Up to 9.1 million Aker Yards shares will be offered to investors in Norway and abroad; Aker’s current shareholding in Aker Yards is 40.1 percent.

– The share divestiture marks the end of an era. Aker has been a proactive, industrial owner. While this transition is wistful, it also heralds the beginning of a new phase for Aker Yards. Our Norway-based, international company welcomes the opportunity to work alongside new shareholders to further develop Aker Yards, says Kjelstad.

Aker Yards is growing and developing well. Profits are rising and the shipyard group’s order backlog is at a historic high. In recent years, Aker Yards has strengthened its position as a leading international shipyard group, with a total of 17 yards in Norway, Finland, Germany, France, Ukraine, Romania, and Brazil. In addition, a modern yard for building offshore and specialized vessels is under construction in Vietnam.

– We have a dynamic record of focused growth to present to potential investors. Aker Yards is continuing to develop well, and greater share liquidity will benefit the company and Aker Yards’ shareholders. I and other senior executives have committed to buy shares for NOK 7 million in the bookbuilding, says Kjelstad.

Leif-Arne Langøy, Aker Yards’ Board Chairman, will leave the Board at the Annual General Meeting on 29 March. As a consequence of the ownership change, Aker Yards will relocate its headquarters from Aker Brygge to other premises in the Oslo region. The company will not be making the planned move to Aker Hus, the new office complex currently under construction at Fornebu, just outside Oslo.

– We will continue our cooperation with other Aker companies. We will continue our partnership with Aker American Shipping in the US shipbuilding market under the existent cooperation agreement. Aker, Aker Kværner, and Aker Yards have generated strategic business opportunities and created significant values. Our joint ownership of recently established Aker Innovation is an example of how our cooperation in the so-called Aker value-creating triangle will be continued, says Kjelstad.