Norway's Aker seeks more investments, says billionaire owner Roekke

Amsc ASA

22/04/2016 12:42

OSLO, April 22 (Reuters) - Norwegian industrial holding 
company Aker  AKER.OL  expects to conduct more acquisitions and 
other transactions in coming years, the firm's top owner said on 
Friday. 
    "At Aker, and companies owned by Aker, the transaction 
activity will probably increase," billionaire investor Kjell 
Inge Roekke, who holds 67 percent of the company's shares, wrote 
in an annual letter to his fellow shareholders. 
    Over the past year, Aker's investment team has been 
presented with an unusually high number of projects and 
companies seeking investors, and is prepared to take part in 
transactions and restructurings, he added. 
    Roekke has an estimated net wealth of 11.1 billion crowns 
($1.36 billion) according to financial periodical Kapital, which 
in 2015 ranked him Norway's ninth-richest person. 
    "Our focus will be on industries where Aker has experience 
and which we believe we're good at, but I won't exclude the 
possibility that Aker under the right circumstances would 
consider deploying capital in new segments," Roekke wrote. 
    Energy-related investments will remain key, with a 
particular focus on oil and gas, the letter said. 
    Aker is the top owner of a range of listed firms including 
oil company Det norske  DETNOR.OL , oil services firms Aker 
Solutions  AKSOL.OL  and Kvaerner  KVAER.OL , fisheries company 
Havfisk  HFISK.OL , shipping firm American Shipping  AMSCA.OL , 
vessel owner Ocean Yield  OCY.OL  and Philly Shipyard 
 PHLYS.OL . 
    ($1 = 8.1874 Norwegian crowns) 
 
 (Reporting by Terje Solsvik, editing by Gwladys Fouche) 
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70; Reuters 
Messaging: terje.solsvik.thomsonreuters.com@reuters.net)) 
 
Keywords: AKER M&A/