Sveaas Camp's application dated December 7 last year to hold an extraordinary general meeting has been withdrawn and therefore no general meeting will be held, Solstad Offshore said in an announcement to the stock exchange.
Last week, E24 wrote that the dialogue between Kjell Inge Røkkes Aker and Christen Sveaas's Kistefos over the resolution of the Solstad dispute has now been broken.
Kestevos called for an extraordinary general meeting to consider lawsuits against Acker and others responsible for the bailout agreement for the debt-laden shipping company Solstad Offshore.
They consider themselves to have been “blatantly discriminated against in favor of Al-Aker” in relation to the bailout agreement.
Aker, Kistefos CEO Bengt Rem and Chairman of the Board Harald Espedal have rejected the criticism.
Read on E24+
Now Sveaas can only win the Solstad dispute in court
There will be no public meeting now
The public meeting was postponed indefinitely, when Acker and Kystevos began a dialogue before Christmas to try to reach an agreement.
However, on Wednesday afternoon after Oslo Bors closed, Solstad Offshore reported that the company had received a letter from Kestevos withdrawing the request for a general meeting.
Therefore, no general meeting will be held, Solstad Offshore reports.
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Kistefos CEO Bengt Rem wrote in an email to E24 that they have no further comments on the matter now.
Solstad Offshore CEO Lars Peder Solstad did not respond to E24's inquiries.
The first part of the refinancing plan was recently approved
When it became clear that the dialogue between the two parties had collapsed, Acker's communications director, Atli Kegen, told E24 that the dialogue had ended without any amendments being made, and that Aker was now “leaving this stage behind us.”
The billionaire's battle began in December last year when investor Christine Svejas and his investment company Kistefos launched a full-scale attack on Røkkes Aker regarding values in the shipping company.
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Solstad Offshore's Board of Directors recently approved the first part of the shipping company's refinancing, as it was brought to market in October of last year.
The restructuring agreement guarantees the company four billion new kroner.
The Røkke-dominated AMSC contributes NOK 1 billion. Aker is injecting NOK 2.25 billion and guaranteeing another NOK 750 million.
The amount of NOK 750 million, which the remaining shareholders can contribute in accordance with the plan, is open to discussion.
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