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Investments

Akastor

Akastor is an oil service investment company with a portfolio of companies. It has a flexible mandate to engage in active ownership and long-term value creation.

AKER’S ENGAGEMENT
Aker owns 70 per cent of the shares in Aker Kværner Holding AS, which in turn owns 40.3 per cent of the shares in Akastor, giving Aker an equity interest equivalent to 28.2 per cent in Akastor. Aker also owns 8.5 per cent of the shares in Akastor directly. Kristian Røkke and Øyvind Eriksen represent Aker on Akastor’s board of directors.

Akastor’s share price was NOK 9.94 as at 31 December 2019, compared to NOK 13.06 one year previously. Aker’s  shareholding was valued at NOK 1.0 billion at the end of 2019, equivalent to 1.6 per cent of Aker’s total assets

AKER’S OWNERSHIP AGENDA
Aker’s main ownership priorities are operational improvements and cost reductions in Akastor’s portfolio companies, and winning new contracts and securing new transactions. Aker is encouraging Akastor to play an active role in the transactional market, both to release capital and to seize opportunities to generate value.

Akastor’s most valuable company is MHWirth, which specialises in the development and delivery of innovative, sustainable technologies to the drilling market. The aim is to grow MHWirth organically and through acquisitions, and to list the company on an independent basis or as part of an industrial, structural solution. In 2019, MHWirth acquired Bronco Manufacturing, a manufacturer of equipment and supplier of engineering and other solutions to the global onshore drilling market.

Since Akastor was spun out of Aker Solutions as a non-core operation in 2014, it has released more than NOK 6 billion through divestments. The completed transactions demonstrate that Akastor’s portfolio companies often offer added value which can be realised in larger, more effective units in industrial constellations. Aker will continue to drive forward these efforts in its capacity as owner.

For more information, please visit www.akastor.com .

Akastor

Listed:
Oslo Børs

Geographic market:
International

Sector:
Energy

Categori:
Oil services

Share of Aker's total assets (4Q19)
2%

CEO:
Karl Erik Kjelstad

Chairman:
Kristian Røkke

Website:
www.akastor.com