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Aker enters TRS agreement

30.04 2013 09:20

30 April 2013 - Aker ASA has today entered into a TRS (Total Return Swap) agreement with exposure to 1 500 000 shares in Aker Solutions ASA. The expiration date of the TRS agreement is November 1st 2013 and the settlement price in the agreement is NOK 83.717325 share.

Aker owns 70 per cent of the shares in Aker Kvaerner Holding AS, which in turn owns 110 333 615 shares, representing 40.3 per cent of the outstanding shares in Aker Solutions. The Norwegian government, through the Ministry of Trade and Industry, owns the remaining 30 per cent of the Aker Kvaerner Holding shares.

Aker has a long-term perspective on its industrial ownership in Aker Solutions, held in partnership with the Norwegian government.  Aker is still of the opinion that Aker Solutions is well positioned with regards to the long-term trends in the oil and gas market.