FLC West Gets Go Ahead as 70% Shareholder in 3 Aker Shipyards

FLC West has confirmed to Aker Yards that they have received approval from Ukraine authorities to come in as a 70% shareholder in three of Aker Yards' shipyards in Germany and Ukraine.

As all approvals from regulatory authorities are now in place, Aker Yards and FLC West will proceed with finalizing the transaction within July. The completion of the transaction will affect Aker Yards' third quarter financial results.

Further details regarding the final financial effects of the transaction will be presented at Aker Yards' presentation of the second quarter financial results on August 8, 2008.