Reference is made to Aker's announcement on 13 September 2021 and the
announcement as of today by Octopus Bidco AS (the "Bidder"), a company
indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P.
and its affiliates, regarding the voluntary offer for all outstanding shares in
Ocean Yield ASA ("Ocean Yield") (the "Offer"). The Bidder announced that
settlement of the Offer has been made today and that the settlement amount can
be expected received on 2 December 2021. As part of the transaction, Aker
Capital AS ("Aker Capital"), a wholly owned subsidiary of Aker ASA (collectively
referred to as "Aker"), has sold its entire shareholding of 108,066,832 shares
(61.65%) in Ocean Yield. The sale will result in app. NOK 4.5 billion cash
release to Aker, which will be deployed in further investments in current and
new business opportunities.
In addition, the previously announced sale by Aker Capital to the Bidder of Aker
Capital's 50% ownership interest in a joint venture with Ocean Yield holding
four LR2 product tankers with long-term charters to the Navig8 Group, will be
completed this week.
Following completion of the abovementioned transactions, Aker will no longer
hold any shares in Ocean Yield or in companies in which Ocean Yield directly or
indirectly holds shares.
-ENDS-
For further information, please contact:
Investors:
Joachim Bjørni, Head of Investor Relations, Aker ASA
Tel: +47 924 22 106
E-mail: joachim.bjorni@akerasa.com
Media:
Atle Kigen, Head of Media Relations and Public Affairs, Aker ASA
Tel: +47 907 84 878
Email: atle.kigen@akerasa.com