Brief: American Shipping Company: Aker explores total return swap

Amsc ASA

08/01/2016 15:52

Jan 8 (Reuters) - American Shipping Company ASA  AMSCA.OL : 
    * Aker ASA  AKER.OL  has through its wholly-owned unit Aker Capital II AS appointed DNB 
Markets, part of DNB Bank ASA to explore opportunity to increase its financial exposure in 
American Shipping Company (AMSC) by entering into a total return swap 
    * In order to facilitate the transaction and hedge total return swap exposure, DNB makes an 
offer to acquire between 2 million shares and 5 million shares (equal to 3.3 pct to 8.25 pct of 
the outstanding shares) in AMSC at a price of 26 Norwegian crowns ($2.92) per share 
    * All existing shareholders accepting the offer will be paid the same price per share, 26 
crowns per share 
 
Source text for Eikon:  ID:nObi8pDzZa  
Further company coverage:  AMSCA.OL  
 
($1 = 8.9108 Norwegian crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48586983920;))