Roekke Fails To Win Full Control Of Aker

Monday, September 13, 1999
Norwegian billionaire Kjell Inge Roekke failed to win full control of industrial holding firm Aker RGI after a controversial buyout bid that ended Sept. 10. Roekke, who is chairman of Aker RGI and who already held two-thirds of the group after a raid last year, reportedly gained control of almost 88 percent of Aker, just short of the 90 percent minimum needed under Norwegian law to force remaining shareholders to sell their stakes and delist the company from the Oslo bourse.

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