Aker — M&A Activity 2016

Feb 23, 2016

Aker ASA: Sale of Aker ASA's real estate assets

Aker ASA: Sale of Aker ASA's real estate assets

Aker ASA ("Aker") today announced an agreement to sell real estate assets to

Kjell Inge Røkke and his company The Resource Group TRG AS ("TRG"). Together

with external financing, the transactions will release NOK 1.55 billion in cash

to Aker and holding companies upon completion.

The transaction comprises 25 per cent of the shares in the Fornebu Gateway AS

real estate consortium and the shares in Aker Maritime Finance AS, which owns

eight industrial properties acquired from Akastor ASA. The sale will generate a

total cash consideration of NOK 952 million. Prior to the transaction, Aker will

receive proceeds of NOK 600 million from external financing of the Akastor

industrial properties. The sales price is based upon the fair values set on the

shares in Fornebu Gateway AS and the Akastor industrial properties when acquired

by Aker-owned subsidiaries in October 2015 and November 2015 respectively. Aker

will recognise a gain of NOK 90 million from the transaction, as a result of

profit accumulated during the period owned by Aker and reduced tax liabilities.

"Selling our real estate properties to Kjell Inge Røkke and TRG will free up

cash to Aker, while still enable us to maintaining control over facilities that

are of strategic importance to both Akastor and Aker Solutions," Aker's Chief

Executive Officer Øyvind Eriksen said. "Aker strengthens its liquidity, thus

enabling the company to uphold an attractive dividend and retain a solid cash

buffer to seize opportunities that may arise in the current market downturn."

Kjell Inge Røkke is Aker's chairman and principal shareholder, and is also TRG's

majority shareholder. The agreements therefore constitute related-party

transactions. The sales processes were conducted at arm's length, in compliance

with Aker's own guidelines for related-party transactions and § 3-8 of the

Public Limited Liabilities Companies Act.

The transactions are expected to close in Aker's fiscal second quarter of 2016,

following approval by Aker ASA's ordinary general meeting to be held on 22 April

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.

[HUG#1988288]