Aker ASA: Aker Capital - Sale of shares in Det norske oljeselskap
Aker Capital, a wholly owned subsidiary of Aker ASA (''Aker''), today sold 1 047 366 shares in Det norske oljeselskap ASA (''Det norske'') at an agreed price of NOK 88 per share. The gain for Aker and its holding companies is approximately NOK 45 million, which will be recorded in the first quarter of 2012. Following the transaction Aker Capital owns a total of 63 945 101 in Det norske, which corresponds to a reduction in ownership to 49.99% from 50.81%.
The share sale resulted from a requirement from the Norwegian Ministry of Petroleum and Energy that Aker issue a parent company guarantee for Det norske to own over 50 percent.
Aker has concluded that as a publicly traded company it would not be appropriate for it to issue an unlimited guarantee for another publicly traded company, Det norske, and has therefore chosen to reduce its stake below 50 percent.
''Aker's decision to decrease its holding in Det norske to less than 50 percent does not come as a result of any change in how we view the company nor the Norwegian continental shelf. Aker wishes to contribute to the long-term development of Det norske through active ownership, '' said Aker's Chief Executive Officer Øyvind Eriksen.
FOR DETAILS, CONTACT: Atle Kigen, Head of Corporate Communications Phone: +47 24 13 00 08 Mobile: +47 907 84 878
Marianne Stigset, Investor Relations Manager Phone: +47 24 13 00 66 Mobile: +47 41 18 84 82
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)