Aker ASA acquires 89.14% stake in Natural ASA
Nordic Business Report-November 16, 2006-Aker ASA acquires 89.14% stake in Natural ASA
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Norwegian holding group Aker ASA said on Thursday (16 November) that it has signed an agreement to acquire Life Capitols remaining 1,951,440 shares in the listed biotechnology company Natural ASA for NOK57 per share.
After the close of trade yesterday, Aker purchased an additional 2,840,000 Natural shares in the market, at NOK57 per share. After the acquisitions Aker controls 89.14% of Natural ASA stock and voting rights.
The company said that the share acquisitions are part of its development of its Aker BioMarine subsidiary. Aker will now seek Naturals merger into Aker BioMarine, as part of the planned stock-exchange listing of Aker BioMarine in the first six months of 2007.
Aker added that it is preparing some NOK1.0bn private placement of Aker BioMarine shares. The share placement is planned for early December 2006.
Aker and Life Capitol have also agreed that the latter will contribute its expertise and resources to the continued development of Aker BioMarines krill business. Life Capitol has also committed to refrain from establishing any competing business activities. As compensation for these commitments, Life Capitol will receive NOK35m.
The agreement with Life Capitol was concluded by the company Aker Seafoods Holding, while the shares purchased in the market were acquired by Aker BioMarine, with Fondsfinans acting as advisor.
Settlement for Life Capitols Natural shares and that companys continued contribution to the establishment of Aker BioMarine will be in the form of Aker BioMarine shares.
Aker Group, headquartered in Oslo, Norway, is a worldwide supplier of technology-based products and advanced, integrated solutions for customers in oil, gas, energy, and process industries. The Aker Group is also a major European shipbuilder and a significant participant in the fisheries industry. The company has almost 50,000 employees and its annual revenues exceed NOK62bn. Aker ASA is listed on the Oslo Stock Exchange under the ticker AKER
One British pound (GBP) is worth approximately 12.21 Norwegian kroner (NOK).
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