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SHA - Aker Carbon Capture has decided to sell its 20 percent ownership interest in SLB Capturi to Aker, targeting cash distribution to its shareholders and subsequent liquidation

Company: Aker Carbon Capture Date: 2025-05-09 Language: English Register to download

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 Aker Carbon Capture has decided to sell its 20 percent ownership interest in SLB Capturi to Aker, targeting cash distribution to its shareholders and subsequent liquidation

# Aker Carbon Capture has decided to sell its 20 percent ownership interest in SLB Capturi to Aker, targeting cash distribution to its shareholders and subsequent liquidation

Aker Carbon Capture ASA (Aker Carbon Capture or ACC) and Aker ASA (Aker) today  

announce an agreement whereby Aker will buy the 20 percent ownership interest in  

SLB Capturi. The agreement forms part of an overall solution for ACC that will  

optimize value for shareholders by ensuring a significant liquidity event.  

  

The transaction follows a strategic review process in Aker Carbon Capture,  

concluding that this transaction represents the most attractive alternative for  

Aker Carbon Capture and its shareholders.  

  

The agreement implies a transaction value for Aker Carbon Capture of NOK 3.03  

per share, or NOK 1.83 billion, which represents a premium of 15% to yesterday's  

closing price and 19% to the volume weighted average price during the last 30  

days. Key elements include:  

  

· Aker, through a subsidiary of Aker Capital AS (ACC HoldCo), will acquire the  

20% ownership interest in SLB Capturi AS held by ACC's subsidiary Aker Carbon  

Capture AS for a cash consideration of NOK 635 million.  

  

· Aker Capital AS will offer a guarantee to cover ACC's parent company  

guarantees and liabilities towards SLB as the seller in relation to the SLB  

Capturi partnership. This guarantee will increase the distributable reserves in  

ACC.  

  

Following completion of the sale of the ownership interest in SLB Capturi AS,  

the ACC Board of Directors will propose that shareholders approve a dividend  

payment of approximately NOK 1.7 billion, equalling NOK 2.86 per share in Aker  

Carbon Capture. This corresponds to approximately NOK 1.1 billion in existing  

cash in ACC, and NOK 635 million in proceeds from the sale to Aker. An  

extraordinary general meeting to consider these matters is expected to be called  

for 15 May 2025. Subject to shareholder approval and other customary conditions,  

the SLB Capturi transaction is expected to close and dividend payment completed  

by end of the third quarter 2025.  

  

After the sale of the ownership interest in SLB Capturi AS and the dividend  

payment, the Board of Directors will propose to ACC's shareholders that the  

company be liquidated, with any remaining cash distributed to shareholders as  

liquidation dividends. An extraordinary general meeting to consider these  

matters is expected to be called for within 2025.  

  

Karl Erik Kjelstad, Chairman of Aker Carbon Capture comments:  

  

"This transaction grants shareholders early access to capital-two years ahead of  

the original timeline-through a carefully structured combination of cash  

distributions and dividends, delivering meaningful value amid a period of  

pronounced market volatility. Following a thorough strategic review, we are  

confident that this represents the  best path to timely value realization for  

our shareholders. Furthermore, we are pleased that the transaction will  

reinforce strong industrial ownership in SLB Capturi, a joint venture dedicated  

to accelerating industrial decarbonization."  

  

Øyvind Eriksen, President and CEO of Aker ASA, comments:  

  

"The creation of SLB Capturi has already delivered substantial value for Aker  

Carbon Capture shareholders. This transaction with Aker unlocks additional value  

amid ongoing market uncertainty. It also provides a clear and constructive path  

forward for our continued strategic collaboration with SLB in the development of  

SLB Capturi."  

  

Considerations  

  

The Board of Directors of ACC has reviewed the structure and financial aspects  

of the transaction supported by financial and legal advisors. ACC finds the  

transaction to be in the best commercial interest of the company and its  

shareholders. Consequently, the Board has deemed it advisable to complete the  

transactions as described above.  

  

Please refer to ACC's website for an announcement as required pursuant to  

Section 3-19 of the Norwegian Public Limited Liability Companies Act, which  

regulation applies whenever a subsidiary of a public company such as ACC enters  

into a qualifying material agreement with a related party.  

  

Advisors  

  

SEB has acted as financial adviser and Wikborg Rein Advokatfirma AS has acted as  

legal counsel to Aker Carbon Capture in connection with the transaction.  

  

Contacts  

  

For further information, please contact:  

  

Mats Ektvedt, Media, tel: +47 41 42 33 28, email:  

mats.ektvedt@corporatecommunications.no  

  

This information is considered to be inside information pursuant to the EU  

Market Abuse Regulation article 7 and is subject to the disclosure requirements  

pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading  

Act. This stock exchange announcement was published by Mats Ektvedt on 9 May  

2025.