Aker buys Solstad Offshore – E24 for $400 million

Røkkes Aker thus increases its ownership to 32.9 percent in the shipping company. It happens after a billionaire has an open quarrel.

Aker, controlled by billionaire Kjell Inge Røkke, is buying 8.24 million shares in Solstad Offshore for approximately NOK 400 million. This increases Aker’s shareholding to 32.9 percent.

Shares were bought at an average price of NOK 48.45, with 7.4 million shares going for NOK 50 and 0.8 million going for NOK 34.84.

This is happening amid an ongoing power struggle over the shipping company.

Earlier in the evening, it became known that brokerage Carnegie was in the market to buy up to 10 percent of Solstad Offshore for up to NOK 50 per share to an “unknown buyer.”

Billionaire Kristin Sves and Kystevos launched a full attack on Kjell Inge Røkkes Aker about the values ​​in the shipping company. Sveaas and Kistefos may end up being required to file a lawsuit in court.

Before then, shareholders in shipping company Solstad Offshore are scheduled to vote on the matter at an extraordinary general meeting.

The crux of Kistevos’s criticism was that the agreement to settle Solstad’s debts blatantly discriminated against Aker’s shareholders. However, Al-Aker rejected this criticism.

Lars Peder Solstad, CEO of Solstad Offshore, said Kistefos’s criticisms were full of factual errors. Solstad Offshore Chairman Harald Espedal said there was a big discrepancy between the words Kistefos used and the market reaction.