Aker — Share Issue/Capital Change 2016

Jun 2, 2016

Aker ASA: Aker sells its shares in Havfisk and Norway Seafoods to Lerøy

Aker ASA: Aker sells its shares in Havfisk and Norway Seafoods to Lerøy

Aker Capital AS and Aker Capital II AS ("Aker"), two wholly-owned subsidiaries

of Aker ASA, have today entered into an agreement with Lerøy Seafood Group ASA

("Lerøy") to sell Aker's 63.21 per cent ownership stake in Havfisk ASA

("Havfisk") for NOK 36.50 per share and Aker's 73.63 per cent ownership stake in

Norway Seafoods Group AS ("Norway Seafoods") for NOK 1.0 per share. Havfisk

Chairman and Aker Chief Financial Officer Frank O. Reite has also agreed to sell

his 1 026 632 shares in Havfisk for NOK 36.50 per share. Reite holds his shares

through the company Fausken Invest AS.

Completion of the transactions is conditional upon Lerøy securing financing, and

the approval of the Norwegian Ministry of Trade, Industry and Fisheries, and the

relevant competition authorities. Completion of the sale will trigger a

mandatory offer for the remaining shares in Havfisk ASA at NOK 36.50 per share.

Provided completion of the transaction, Lerøy also intends to make an offer for

the remaining shares in Norway Seafoods at NOK 1.0 per share.

"Aker has received and accepted an offer from Lerøy to sell its shares in

Havfisk and Norway Seafoods," said Aker President and Chief Executive Officer

Øyvind Eriksen. "This is a quite an acknowledgement of our whitefish harvesting

and processing companies from one of Norway's leading seafood exporters."

"Aker has been an industrial owner in the Norwegian fishing industry since

1996," Eriksen added. "Our ownership will be passed on to an industrial owner

who harbours ambitions for the Norwegian seafood sector. Lerøy is the world's

second-largest producer of Atlantic salmon and will with this strengthen its

within the whitefish segment."

"It is with mixed feelings that we receive the news of the change in ownership,

however we see that this could open for new opportunities," said Bjarne

Kristiansen, Norway Seafoods' employee representative. "Aker has been a good,

long-term owner for 20 years. We have high expectations of Lerøy as an owner.

The companies complement each other. Lerøy is a global leader on salmon, Havfisk

provides world class raw material from cod, saithe and haddock, and Norway

Seafoods gets an owner with core competencies in sales, marketing and

distribution."

Aker owns 53 501 793 shares in Havfisk and 62 293 254 shares in Norway Seafoods.

The share sales will release approximately NOK 2.0 billion to Aker, which will

increase Aker's capacity to seize new investment opportunities. Aker will

recognise a gain of NOK 1.6 billion from the sale.

"I've spent 20 years building and developing what is today Havfisk and Norway

Seafoods," said Aker Chairman and principal shareholder Kjell Inge Røkke. "There

is much I am proud of, although we haven't succeeded in everything we set out to

do as owners. Aker received an offer we deemed financially acceptable, and our

harvesting and processing companies couldn't have gotten a better owner. I was

introduced to Helge Møgster and his family 29 years ago and I'm impressed with

his industrial accomplishments. Møgster will now have the opportunity to combine

salmon and whitefish activities, which should be welcomed by the local

communities in which Norway Seafoods operates, as well as by Helge Møgster and

his fellow shareholders."

"I'm grateful for my journey through the whitefish industry, and I would

especially like to extend my thanks to the fishermen, the employees, our

supporters and our critics," Røkke added. "Without debate there would be no

progress. The opportunity to establish an international seafood group that spans

both salmon and whitefish is one the Norwegian whitefish industry deserves."

Going forward, Aker's seafood investments will be concentrated on krill

harvesting and marine biotechnology. Aker has also, through a joint venture with

Norway Royal Salmon, submitted an application for development licenses for the

farming of salmon offshore.

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.

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