Headline:
Norway‘s State to Sell Stake in Aker Solutions, Valued at Over NOK 1 Billion
Article:
Minister of Trade and Industry, Cecilie Myrseth, has announced that the Norwegian government is set to sell its stake in oil services giant, Aker Solutions. The state-owned shares, amounting to approximately 30 million, represent 6.11% of all Aker Solutions shares. At the current market price, this stake is valued at over NOK 1 billion.
The Ministry of Trade, Industry and Fisheries has appointed ABG Sundal Collier and DNB Markets to facilitate the sale, which is expected to be completed by Thursday morning.
The Norwegian government acquired its stake in Aker Solutions following the 2020 merger with Kværner. However, the roots of this investment trace back to 2007 when the state bought into Aker Holding, a partnership that later soured due to disagreements between then-Minister of Trade and Industry, Sylvia Brustad, and billionaire Kjell Inge Røkke. Despite the past controversies, Røkke’s Aker remains the largest shareholder in Aker Solutions.
The planned sale comes amidst a broader trend of the Norwegian state divesting from its shares in various companies. In 2022, under the tenure of then-Minister of Trade and Industry, Jan Christian Vestre, the state reduced its holdings in Aker Solutions, citing a relatively small share with limited influence.
