Aker ASA: Joint Venture with Ocean Yield
Aker Capital AS ("Aker") has entered into an agreement with Ocean Yield ASA (“Ocean Yield”) for co-ownership of oil tankers.Aker has entered into an agreement with Ocean Yield whereby Aker will acquire from Ocean Yield 50% of seven tankers with long-term charters. The Joint Venture (“JV”) will own four LR2 product tankers with long-term charter to the Navig8 Group and three Suezmax tankers with long-term charter to Nordic American Tankers Ltd. Aker will pay USD 10.2 million for 50% of the shares in two new holding companies, which is equal to the book values. The investment satisfies Aker’s