Akastor — M&A Activity 2015

Nov 9, 2015

Akastor ASA: Akastor to divest real estate portfolio of eight properties

Akastor ASA: Akastor to divest real estate portfolio of eight properties

Akastor has entered into an agreement with Aker to divest

eight properties with long-term lease agreements. The

properties are valued at NOK 1 243 million in an all-cash

transaction.

CFO Leif Borge states in a comment: "As previously

communicated, we have explored various opportunities to

monetize our real estate entities, and are pleased to

conclude this process. By divesting these financial assets,

we will be able to strengthen Akastor's financial position

and flexibility. When evaluating our opportunities

throughout the sales process, the bid from Aker was the most

attractive."

Under the terms of the transaction, a wholly-owned

subsidiary of Aker will acquire 100 per cent of the shares

in the real estate companies in Akastor's portfolio that

owns the following properties: '

Tranby, Egersund, Ågotnes, Stokke and Sandnessjøen, all

fully rented by subsidiaries of Aker Solutions ASA

Dvergsnes (Kristiansand) and Midsund, both fully rented by

subsidiaries of Akastor ASA

Grunnavågen (Stord), fully rented by Wärtsilä Norway AS

The average remaining contract tenor of the lease is

approximately 18.5 years. The annualized rent in 2015 is

approximately NOK 86.5 million in total.

The transaction has been completed in compliance with

Akastor's related party principles; whereas fairness

opinions have been prepared for both parties and the

transaction has been approved by the board of directors in

both Akastor ASA and Aker ASA. The transaction is expected

to be completed in the fourth quarter of 2015, subject to

approval by the board of directors in Aker Kværner Holding

AS.

Akastor expects to realize a financial gain of approximately

NOK 300 million in its fourth quarter results for 2015,

following completion of the divestment. The expected net

cash, after tax, effect of the transaction will be

approximately NOK 1 170 million.

For more information, please contact:

Tore Langballe

Head of Communications

and Investor Relations

Tel: Office: +47 21 52 58 10, Mobile: +47 90 77 78 41

E-mail: tore.langballe@akastor.com

This information is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading

Act.