Aker Enters TRS Agreement
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.