Aker Capital bolsters position at Solstad Offshore

Kjell Inge Røkke-controlled Aker Capital has upped its stake in Solstad Offshore, acquiring a further 8.24m shares in the Norwegian outfit at an average price of NOK48.45 ($4.62) per share.

Following the transaction, Aker Capital now holds approximately 32.9 % of the shares and votes in the company.

Solstad Offshore struck a refinancing deal for its fleet of NOK9.7bn worth of loans with Aker, AMSC, DNB and Eksfin in October. As a result, Solstad NewCo is being set up in which NOK4bn of new equity will be raised, with Aker contributing at least NOK2.25bn and guaranteeing a further NOK750m, while Aker-dominated AMSC, will contribute the owning entity for the CSV Normand Maximus in exchange for NOK1bn of new shares in Solstad NewCo.

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