Business
Aker ASA: Announces Transactions with Aker Horizons and Aker Carbon Capture
Reference is made to the announcements today by Aker Horizons ASA ("AKH") and Aker Carbon Capture ASA ("ACC") regarding respective transactions involving Aker entities.
About this update from Aker Asa Class A
[{"type":"text","content":"OSLO, Norway, May 9, 2025 /PRNewswire/ -- Reference is made to the announcements today by Aker Horizons ASA ("AKH") and Aker Carbon Capture ASA ("ACC") regarding respective transactions involving Aker entities.","length":235,"tagName":"p"},{"type":"text","content":"The independent transactions are the outcome of a comprehensive strategic review of alternatives for a refinancing of Aker Horizons. The proposed totality will also simplify and consolidate Aker ASA's ("Aker") ownership. Full announcements, including transaction details, are available at www.akerhorizons.com and www.akercarboncapture.com. ","length":355,"tagName":"p"},{"type":"text","content":"In summary, the main elements are:","length":34,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Aker Horizons: ","length":15,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Aker Horizons Holding to merge with a subsidiary of Aker ASA against a merger consideration, whereby AKH shareholders (other than Aker Capital, an Aker ASA subsidiary) will receive 0.001898 shares in Aker ASA and NOK 0.267963 in cash for each share owned in AKH (subject to rounding). The exchange rate is based on the 30-day volume-weighted average share price for each company. Aker Horizons Holding encompasses all business activities of the Aker Horizons group, including its shareholding in Aker Carbon Capture ASA (ACC), investment in Mainstream Renewable Power, and the Narvik properties.","length":595,"tagName":"p"}]},{"val":[{"type":"text","content":"Aker ASA will settle the consideration shares in the merger with treasury shares or issue new shares pursuant to current board authorizations.","length":142,"tagName":"p"}]},{"val":[{"type":"text","content":"AKH's NOK 2.5 billion green bond will be redeemed before the original maturity date of August 15, 2025, using existing cash reserves, thereby reducing cash interest costs that would have accrued until the bond's maturity.","length":234,"tagName":"p"}]},{"val":[{"type":"text","content":"Bondholders in the NOK 1.6 billion convertible bond will be offered redemption at 93% of par value. Aker Capital will remain with NOK 1.3 billion of this debt.","length":164,"tagName":"p"}]},{"val":[{"type":"text","content":"The debtor position of other loans in AKH...