Aker Asa News

Aker Capital AS has acquired 8,240,000 shares in Solstad Offshore ASA, at an average price of NOK 48.45 per share.Following the transaction, Aker Capital holds 27,089,493 shares in the company, corresponding to an ownership interest of approximately 32.9%.Aker Capital AS is 100% owned by Aker ASA and represented on the board of the company by Frank Ove Reite. Frank Ove Reite also owns 356,509 shares in the company, through Fausken Invest AS.In its Q3 market update, Solstad was positive about demand for offshore services, both from oil and gas and renewables.

Norway's Aker Clean Hydro and Swiss logistics group Kuehne & Nagel on Friday announced a cooperation to boost carbon-neutral container transport at sea, banking on hydrogen as one of the fuels that will make it possible.The partnership comes as Europe is trying to establish a flourishing hydrogen industry to help CO2-intense sectors, such as steel, construction and transport, cut emissions and wean off fossil fuels.As part of the cooperation, Aker Clean Hydro, which is majority-owned by conglomerate Aker ASA via green technology subsidiary Aker Horizons…

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Aker Horizons has signed a Letter of Intent with Statkraft and Yara with the aim to establish "Europe's first industrial-scale green ammonia project in Norway, enable the hydrogen economy, and accelerate the energy transition." The company said the first project in the partnership will be to electrify Yara's existing ammonia facility in Porsgrunn, "which has the potential to be one of the largest climate initiatives in Norwegian industrial history."The partners will further target green hydrogen and green ammonia opportunities within shipping…

Norway's Aker BioMarine plans to raise 2.15 billion Norwegian crowns ($225 million) in a private share sale valuing it at 8 billion crowns, followed by a listing of the company's stock, its owners Aker ASA and Aker Capital said on Friday.Aker BioMarine harvests off Antarctica small ocean crustaceans known as krill, rich in omega-3 fatty acids and eaten by whales, fish, seals and penguins, and turns it into food supplements and animal feed.Arctic Securities, DNB Markets, and Skandinaviska Enskilda Banken (SEB) were appointed joint bookmakers for the planned transaction and listing of shares on

Philly Shipyard ASA announced that Brian Leathers will assume the position of Chief Financial Officer (CFO) immediately following the Q2 2019 meeting of the Board of Directors on July 15, 2019.Mr. Leathers will replace Jan Ivar Nielsen, who is resigning from his position as the company’s CFO to pursue another executive role within the Aker group. Mr. Nielsen will remain available to the company until August 15, 2019 to ensure a smooth transition.Mr. Leathers has served as the company’s Strategy and Compliance Officer for the past six months, reporting to Mr. Nielsen. Prior to that role, Mr.

Aker BP finds up to 153 million barrels of oil equivalents in North SeaAker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents, and may straddle Norway's maritime border with Britain."The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery," Aker BP said in a statement.When reserves are found to stretch across the British-Norwegian offshore border, the two nations…

When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own, Cognite, to create digital maps of Aker BP's oil industry assets, integrating data from equipment such as pumps, heat and pressure sensors, maintenance records and even staff rotas to improve efficiency and safety.Less than two years later, Cognite is selling its software to Aker BP's rivals and one competitor, Sweden's Lundin Petroleum, has even agreed to share its real-time oilfield data with Aker in what they say is an industry first."This will be the first time two different operators…

Nordic American Tankers (NAT) has entered into final agreements with a subsidiary of Ocean Yield ASA for the financing of the outstanding commitments of $39 million per ship, due on delivery. Three NAT newbuildings are under construction at Samsung shipyard in South Korea. 30% of the contract price for each vessel ($55.7 m) was paid cash by NAT to the yard when the vessels were ordered in October 2016. The three Suezmax newbuildings are expected to be delivered during the latter part of 2018. The financed amount by Ocean Yield is about $43 million per vessel. The agreements are based on a 10-year bareboat charter for each vessel. NAT will buy back the vessel at the end of the charter, but also has the flexibility to buy-back the vessels from Ocean Yield after year five and seven.

Norwegian OSV companies Solstad Offshore, Farstad Shipping and Deep Sea Supply have signed off on merger plans first announced on February 6, 2017. The statutory merger plans have been approved and signed by the boards of Solstad, Farstad, DESSC and Solstad’s relevant subsidiaries, into which Farstad and DESSC will be merged. Deep Sea Supply and Farstad Shipping will merge into and be established as individual subsidiaries under Solstad Offshore, with shareholders of Deep Sea Supply and Farstad Shipping receiving shares in Solstad Offshore as consideration. Each of Solstad, Farstad and DESSC will immediately after this release also issue a separate release which will contain the relevant technical details on the mergers.

Aker ASA has on 30 September 2015 transferred its equity holdings in Converto Capital Fund AS to Aker Capital AS, a wholly-owned subsidiary of Aker. As per 30 September 2015, Converto Capital Fund AS directly held 7,237,631 of the issued shares and votes in Aker Philadelphia Shipyard ASA, or 57.56 per cent of the share capital.

Aker Philadelphia Shipyard ASA announces its plan to change its name to Philly Shipyard ASA, pending an upcoming shareholder vote at an extraordinary general meeting expected to take place in October 2015. Aker Philadelphia Shipyard, Inc. (APSI) will likewise change its name to Philly Shipyard, Inc. "Changing our name to Philly Shipyard more accurately reflects the shipyard we have become in recent years," remarked Steinar Nerbovik, Aker Philadelphia Shipyard's President and CEO. "We have delivered on our promises and stand firmly on our own two feet as a company. The new name also represents the proud tradition of shipbuilding in Philly and the City with which we are so intimately linked," Steinar said.

Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), a leading U.S. commercial shipyard, and previously President & CEO of AKPS, will assume his new position in Akastor ASA on August 10, 2015. Aker ASA will propose to the nomination committee of Akastor ASA that Frank O. Reite takes the position as Chairman of the Board of Akastor ASA later this year. "I am very pleased that Kristian has accepted the position at the helm of Akastor.

Seadrill Limited announced today that Carl Erik Steen has resigned from the board of directors with immediate effect. Filling the position is Ørjan Svanevik, who was appointed by the board of directors to fill the vacant position starting immediately. Svanevik is an employee of the Seatankers Group and was previously managing director for the investment advisory firm, Oavik Capital. Prior to Oavik, he was head of M&A and a partner at Aker ASA, and COO and EVP of Kværner ASA. Svanevik also worked nearly a decade in corporate advisory and investment banking. He started his career at Schlumberger, where he held various international financial management positions. Svanevik has an AMP from Harvard Business School and a MBA from Thunderbird.

Norway's Aker ASA may decide to merge or otherwise restructure two listed units that have seen strong benefits from the U.S. shale oil energy boom, Aker's Converto investment vehicle said in a statement released late on Monday. Converto, the top owner of both Aker Philadelphia Shipyard and American Shipping Company (ASC), seeks to "evaluate and execute potential strategic initiatives to visualize and maximize shareholder value" for the two firms. "This could include M&A and financial restructuring ... as well as investigating potential joint strategic alternatives for the two companies," it added. Converto said it had recently considered selling its shares in American Shipping Company…

"This move is a long-term investment for us and underlines our commitment to Aberdeen and our customers in the area," said David Currie, Aker Solutions' regional head in the UK. Aker Solutions explains that the facility is under development and will consist of three interconnected buildings in the Aberdeen International Business Park on Dyce Drive, the main route between Aberdeen's city center and international airport. The complex will total about 31,100 square meters (334,713 square feet) of office space and related facilities, including a fitness center with squash courts, catering facilities, a nursery, medical facilities and an auditorium. It constitutes the first phase of the park's development and is expected to be ready for occupation in the second quarter of 2015.

Aker Philadelphia Shipyard and financial sponsors, including American Shipping Company and funds affiliated with Apollo Global Management, create pure play Jones Act shipping company, Philly Tankers. Aker Philadelphia Shipyard ASA (OSE: AKPS) is pleased to announce the planned establishment of Philly Tankers AS, a Norwegian limited liability company, and its wholly-owned subsidiary, Philly Tankers LLC, a Delaware limited liability company (together “Philly Tankers”). Philly Tankers…

Aker ASA has engaged ABG Sundal Collier Norge ASA and Arctic Securities ASA to explore the opportunity to acquire approximately 16.5 million shares (roughly 6% of the share capital) in Aker Solutions ASA, but with the possibility for Aker ASA at its full discretion to increase or decrease the number of shares to be acquired. The offer is carried out through a book building process. The managers will gather and accumulate sales orders from existing shareholders. All existing shareholders are invited to offer shares at a price level defined by the selling shareholder.

Aker ASA entered a TRS (Total Return Swap) agreement with exposure to 1,500,000 shares in Aker Solutions ASA.  The expiration date of the TRS agreement is November 1, 2013 and the settlement price in the agreement is NOK 83.717325 share. Aker owns 70% of the shares in Aker Kvaerner Holding AS, which in turn owns 110,333,615 shares, representing 40.3% of the outstanding shares in Aker Solutions. The Norwegian government, through the Ministry of Trade and Industry, owns the remaining 30% of the Aker Kvaerner Holding shares.

The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees. The shareholder-elected members are Kjell Inge Røkke (chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen. The employee-elected members are Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes. Kjell Inge Røkke is an entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990s. Mr. Røkke owns 67.8 percent of Aker ASA through The Resource Group TRG AS.

Karl Erik Kjelstad has been appointed executive vice president and member of the executive management team at Aker Solutions. Kjelstad will lead the development of the strategic initiative related to oilfield services and the company's fleet of marine vessels. Kjelstad will report directly to the CEO, and will work with Aker Oilfield Services and marine partner DOF to realize the potential of recent investments. Kjelstad, formerly Senior Partner & President, Maritime Technologies of Aker ASA, has been with the Aker group since 1998. He was President & CEO of Aker Yards ASA from January 2003-June 2007 and currently serves as Chairman of Aker Philadelphia Shipyard ASA, Aker Oilfield Services Ltd, and Aker DOF Deepwater.

Aker Solutions has been selected to provide a comprehensive package of drilling equipment, including derrick and pipe-handling components, for use in upgrades planned for Noble Corporation's three Brazil-based drillships. The contract value is approximately $14.7m.   The components are expected to be delivered and installed as part of previously announced reliability upgrades of the vessels Noble Leo Segerius, the Noble Roger Eason and the Noble Murvalenko. First equipment deliveries are scheduled for early 2010.   The contract party is Aker MH Inc in Katy, Texas. (www.akerasa.com)

AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions…