Aker - M&A Activity 2021 | FinancialReports.eu

Aker ASA: Sale of shares in Ocean Yield under voluntary offer completed

Reference is made to Aker's announcement on 13 September 2021 and the

announcement as of today by Octopus Bidco AS (the "Bidder"), a company

indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P.

and its affiliates, regarding the voluntary offer for all outstanding shares in

Ocean Yield ASA ("Ocean Yield") (the "Offer"). The Bidder announced that

settlement of the Offer has been made today and that the settlement amount can

be expected received on 2 December 2021. As part of the transaction, Aker

Capital AS ("Aker Capital"), a wholly owned subsidiary of Aker ASA (collectively

referred to as "Aker"), has sold its entire shareholding of 108,066,832 shares

(61.65%) in Ocean Yield. The sale will result in app. NOK 4.5 billion cash

release to Aker, which will be deployed in further investments in current and

new business opportunities.

In addition, the previously announced sale by Aker Capital to the Bidder of Aker

Capital's 50% ownership interest in a joint venture with Ocean Yield holding

four LR2 product tankers with long-term charters to the Navig8 Group, will be

completed this week.

Following completion of the abovementioned transactions, Aker will no longer

hold any shares in Ocean Yield or in companies in which Ocean Yield directly or

indirectly holds shares.

-ENDS-

For further information, please contact:

Investors:

Joachim Bjørni, Head of Investor Relations, Aker ASA

Tel: +47 924 22 106

Media:

Atle Kigen, Head of Media Relations and Public Affairs, Aker ASA

Tel: +47 907 84 878

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