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Investments

Akastor

Akastor is an oil service investment company with a portfolio of companies. It has a exible 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. Frank O. Reite and Øyvind Eriksen represent Aker on Akastor’s board of directors.

In 2017, Akastor’s share price rose from NOK 16.20 to NOK 16.40. Aker’s shareholding was valued at NOK 1.6 billion at the end of 2017, equivalent to 3 per cent of Aker’s total assets.

AKER’S OWNERSHIP AGENDA
Aker is supporting and encouraging Akastor to play an active role in the transactional market. In 2017, the portfolio company Frontica Advantage merged with the global sta ng company NES Global Talent. KOP Surface Products was sold, and a Mem- orandum of Understanding (MoU) was signed with Mitsui & Co. Ltd. for joint ownership (50-50) in AKOFS O shore. Akastor’s largest investment, the drilling technology company MHWirth, is making operational and cost improvements. The company also won an important drilling package contract (West White Rose Extension Project). In addition, a 10-year service agree- ment was signed with the leading rig company Transocean.

Aker’s priority is for Akastor to develop the portfolio companies through operational improvements and initiatives to increase the company’s competitiveness, and to realise value. Completed transactions show that Akastor’s portfolio companies have an added value which becomes visible in larger, more e ective 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 (4Q17)
3%

CEO:
Karl Erik Kjelstad

Chairman:
Frank O. Reite

Website:
www.akastor.com