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.
Akastor’s share price fell from NOK
21.60 to NOK 12.00 in 2015. Aker’s shareholding was valued at NOK 1.2 billion as at 31 December 2015, equivalent to 4 per cent of Aker’s total assets at the end of the year.
Aker’s ownership agenda
Akastor has a flexible mandate to exercise active ownership and engage in longterm value creation for shareholders. Aker’s priority as owner is for Akastor to develop and realise the true value potential of the portfolio companies through improvements and transactions in accordance with Akastor’s strategic plans. Aker’s longer term aim is for Akastor to develop its portfolio by seizing investment opportunities which arise during an economic downturn.