Aker to Sell Upward of 2.3M Aker Yards Shares

Aker ASA has decided to sell up to 2.34 million shares of its Aker Yards shareholding. Following completion of the share sale, Aker will hold no less than 40.1 percent of Aker Yards shares, compared with its current holding of 50.4 percent.

The sale frees up further liquidity to strengthen Aker`s balance sheet and increase its financial clout for additional industrial moves. No extraordinary dividend payment will be made to Aker shareholders as a result of the share sale.

"The share sale strengthens Aker`s ability to contribute to further industrial development at Aker Yards and Aker Kværner--and to generating additional shareholder value for them and Aker. The interaction in this value-creating triangle of Aker companies will continue after the share sale," said Leif-Arne Langoy, Aker`s Chairman and President and CEO.

Aker will continue its role as a long-term Aker Yards owner, and has no plans for further Aker Yards share divestitures.

SEB Enskilda Securities ASA and Carnegie ASA are lead managers in the Aker Kværner portfolio reduction.