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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 owns 40.3 per cent of the shares in Akastor, giving Aker an equity interest in Akastor equivalent to 28.2 per cent. Aker also owns 8.5 per cent of the shares in  Akastor directly.

Frank O. Reite and Øyvind Eriksen represent Aker on Akastor’s board of directors.

In 2016, Akastor’s share price rose from NOK 12.00 to NOK 16.20. Aker’s shareholding was valued at NOK 1.6 billion at the end of 2016, equivalent to 4 per cent of Aker’s total assets.

AKER’S OWNERSHIP AGENDA
Aker encourages Akastor to play an active role in the transactional market. In 2016, Akastor released NOK 2.6 billion through transactions. Akastor’s largest investment, MHWirth, has cut capacity and cost levels significantly. Akastor’s liquidity reserve totalled NOK 3.1 billion at year end, leaving the company well equipped to take on markets which continue to present challenges.

Akastor is driving forward efforts to reduce costs in its portfolio companies, make  operational improvements, take the strategic initiative and reinforce competitiveness. These steps are being taken pursuant to the company’s strategic value-creation plan. Aker’s priority is for Akastor to develop and realise the value of the portfolio companies. Transactions completed in 2016 show that Akastor’s portfolio companies have an added value which becomes visible in larger, more effective units in industrial constellations.

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 (4Q16)
4%

CEO:
Kristian Røkke

Chairman:
Frank O. Reite

Website:
www.akastor.com