Aker — M&A Activity 2015

Nov 9, 2015

Aker ASA: Aker to acquire Akastor real estate portfolio

Aker ASA: Aker to acquire Akastor real estate portfolio

Aker ASA today announced an agreement to acquire eight

industrial properties in Norway from Akastor ASA. The

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

cash transaction. This agreement follows a competitive

process run by Akastor.

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 own 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

Grunnavågen (Stord), fully rented by Wärtsilä Norge AS

The properties will have a total annualised rent in

2015 of approximately NOK 86.5 million. The average

remaining contract tenor of the leases is

approximately 18.5 years. Six of the leases are

guaranteed by either Aker Solutions ASA or Akastor

ASA. The remaining two leases are with solid

counterparties.

"It is important for Aker as principal shareholder to

maintain control over production facilities that are

of significance to our operating businesses," said

Aker President and Chief Executive Officer Øyvind

Eriksen. "The properties acquired from Akastor are

important to the core businesses of Aker Solutions,

MHWirth and Fjords Processing. The investment meets

Aker's required rate of return and provides us with an

additional source of upstream cash flow. Additionally,

the transaction strengthens Akastor's cash balance.

Thus, this is an investment that meets multiple

strategic objectives for Aker."

Aker owns 70 per cent of the shares in Aker Kværner

Holding AS, which in turn owns 40.3 per cent of the

shares in Akastor. Additionally, Aker directly owns

8.5 per cent of the shares in Akastor, bringing its

total equity interest to 36.7 per cent. Therefore, the

agreement constitutes a related-party transaction. The

transaction process was conducted at arm's length, in

accordance with relevant regulation as well as in

compliance with Aker and Akastor's own guidelines for

related-party transactions. Fairness opinions were

prepared for both parties and the transaction was

approved by the Board of Directors of both Aker and

Akastor.

The transaction is expected to close in Aker's fiscal

fourth quarter of 2015, subject to approval by the

Board of Directors of Aker Kværner Holding AS.

END

For further information, please contact:

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

This information is subject to the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act.