Aker ASA: Aker to establish a new property development company with partners
Aker ASA's wholly owned subsidiary Aker Capital AS ("Aker") has entered into an agreement with Geveran Trading Co. Ltd (a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family) ("Geveran") and Joh Johannson Eiendom AS to establish a residential real estate development company, FP Bolig Holding AS ("FP Bolig")."This is a new strategic step for Aker's real estate development. We are strengthening our real estate initiatives by entering into joint ownership with two prominent investment companies", said Øyvind Eriksen, President & CEO of