Latest news with #Aker
The Star
14-05-2025
- Business
- The Star
SBB surge on Aker deal to benefit creditors
The deal marks the next major step forward for the once-embattled real estate company as it seeks new investors amid looming debt maturities. — Bloomberg STOCKHOLM: Shares and bonds in Sweden's SBB rally after Norwegian industrial investment group Aker ASA became the commercial landlord's new main shareholder. The deal, in which Aker's property unit took a 9.08% stake in SBB, marks the next major step forward for the once-embattled real estate company as it seeks new investors amid looming debt maturities. Samhallsbyggnadsbolaget i Norden AB, as the group is formally known, will also benefit from improved cash flow and debt metrics, according to chief executive officer Leiv Synnes. 'There's the added benefit of how SBB is perceived,' Synnes said on Tuesday. 'The company is starting to do things that creditors will like.' In addition, Aker agreed to acquire a stake in Public Property Invest AS, a Norwegian property group where SBB is the majority shareholder. 'Aker is prepared and willing to allocate more capital when needed, provided the business case meets our investment criteria,' Aker chief executive officer Oyvind Eriksen said. 'That mindset applies to our stakes in PPI and SBB.' SBB shares jumped as much as 26%, the most since September 2023, in Stockholm. The company's hybrid notes were marked 4.6 US cents on the euro, higher at a bid price of 68.09 cents, according to data compiled by Bloomberg. Aker's Eriksen added that he expected the investment in SBB to 'exceed over time' the 10% annual return target to the investment group's shareholders. Under the terms of the deal, SBB will issue 164 million class-B shares to Aker Property Group at a value of 4.25 kronor apiece. Aker will become SBB's largest shareholder and the equity issuance will lower SBB's loan-to-value ratio to less than 60%, according to Synnes. 'Aker Property Group is a strong owner that can help us in this transaction and in the future,' Synnes said. There's also the increased possibility of a dividend at PPI, which in turn should help SBB's cash flow as it will now hold more shares in the Norwegian group, he added. SBB also published an earnings report for the first quarter on Tuesday, where it announced the formation of two wholly-owned subsidiaries for the community property portfolio, SBB Samhalle and SBB Utveckling. Synnes said the motivation for doing this was to appoint specialists within the company to handle specific property types. Those working in the Utveckling unit will be focused on development projects, while Samhalle will be centred on the management of cash flow generative properties. 'The division makes it easier to attract capital to Samhalle,' Synnes said. 'That will be creditors in the first instance or even equity partners in the future.' — Bloomberg
Yahoo
13-05-2025
- Business
- Yahoo
Aker ASA: Aker Property Group acquires ownership interest in Public Property Invest ASA and Samhällsbyggnadsbolaget i Norden AB
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. FORNEBU, Norway, May 13, 2025 /PRNewswire/ -- Aker Property Group ("APG"), a wholly owned subsidiary of Aker ASA ("Aker"), announces today that it has signed agreements to acquire a strategic ownership interest in Public Property Invest ASA (OSE: PUBLI) ("PPI") and Samhällsbyggnadsbolaget i Norden AB (STO: SBB) ("SBB"). The transaction includes: TRG Real Estate AS ("TRG"), a company indirectly controlled by Kjell Inge Røkke, Chair of Aker ASA, has reached an agreement to sell an industrial property portfolio (the "Industrial Property Portfolio") to PPI at an agreed equity value of NOK 2.325 billion, in exchange for 124,398,074 new ordinary shares in PPI, issued at a price of NOK 18.69 per share (the "PPI Shares"). TRG has agreed to transfer the right to receive 39,808,989 PPI Shares to SBB I Norden AB ("SBB I Norden"), which is an indirect wholly owned subsidiary of SBB. In exchange, TRG will receive 164,561,931 class B-shares in SBB, representing about 9.08 percent of SBB's share capital and 4.44 percent of the voting rights (the "SBB Shares"). TRG has agreed to transfer to APG the right to receive both the SBB Shares and the remaining 84,589,085 PPI Shares that were not transferred to SBB I Norden at the same valuation as agreed with PPI and SBB. Following the completion of the transaction, APG will be the second largest shareholder in PPI with about 24.58 percent of the shares and votes. Additionally, it will own about 9.08 percent of the share capital and 4.44 percent of the votes in SBB. SBB, through SBB I Norden, will continue as the majority shareholder in PPI with about 33.4 percent of the shares. PPI maintains a solid balance sheet and has a clear strategy for continued consolidation in the Nordic Community market segment. Since its IPO in 2024, PPI has demonstrated strong operational performance, achieved a BBB Investment Grade rating, and initiated quarterly dividend payments. "The transaction with PPI aligns with Aker's strategy to concentrate our portfolio on fewer, cash-generative investments. PPI is a solid company with a strong management team, diverse portfolio, and opportunistic growth strategy focused on value-accretive transactions. Its low-risk profile and predictable dividend payment strategy further underscores the strong fit with Aker's plans to increase the real estate exposure over time," says Øyvind Eriksen, President and CEO of Aker ASA. PPI's real estate portfolio primarily consists of properties with public tenants in prime locations across Norway. The company has a long-term strategy to own, operate, and develop social infrastructure properties in the Nordics. As part of PPI's acquisition of the Industrial Property Portfolio from TRG, the company is establishing a new infrastructure segment to focus on high-quality infrastructure assets that complement its existing portfolio, characterized by solid tenants, long lease contracts, and stable cash flow. "This represents a milestone transaction for PPI and enable us to establish a new business segment within critical industrial infrastructure. The portfolio is very attractive, it yields 7 percent and is fully let to solid counterparties with a WAULT of 15 years. We are also very excited to get Aker in as a new strategic, long-term investor with a stated ambition to support PPI's growth journey," says André Gaden, CEO of PPI. Aker will in connection with the transaction nominate Jens Jalland, CEO of Aker Property Group, to enter the PPI Board of Directors. Through the transaction, Aker also becomes a significant owner in SBB. Øyvind Eriksen comments: "Aker fully supports SBB management's strategy to simplify the corporate structure, deleverage the balance sheet, and grow Net Asset Value. We are prepared to contribute additional capital and will leverage our capital markets expertise, industrial heritage, and proven track record to facilitate SBB's transformation and long-term value creation." "We welcome Aker Property Group as long-term major shareholder in SBB. We are delighted to have the opportunity to continue developing SBB together. We believe that today's transaction between PPI and Aker Property Group and the directed issue from SBB to Aker Property Group will increase SBB's earnings and reduce its debt ratio. This transaction will improve the financial situation of SBB and all its stakeholders," says Lennart Sten, Chairman of SBB. Transaction Details The Industrial Property Portfolio being sold by TGR to PPI includes eight industrial properties located in the municipalities of Lier, Egersund, Kristiansand, Sandnessjøen, Molde, Øygarden, and Stord. The properties are primarily leased to Aker Solutions and HMH. The portfolio will be transferred to an equity value of NOK 2.325 billion, based on an agreed net property value of NOK 1.525 billion and an agreed net cash level NOK 800 million for the portfolio companies. Deviations from the agreed net cash level on closing will be settled in cash between the parties. The PPI Shares will be issued at a subscription price of NOK 18.69 per share. The PPI Shares will be issued in three tranches: 30,524,657 of the PPI Shares ("Tranche 1") will be issued by the board of directors of PPI (the "PPI Board") pursuant to authorizations granted to the PPI Board by the general meeting April 12, 2024; 43,956,920 of the PPI Shares ("Tranche 2") will be issued by the PPI Board pursuant to authorizations expected to be granted to the PPI Board by the general meeting May 16, 2025; and 49,916,497 of the PPI Shares ("Tranche 3") will be proposed issued at an extraordinary general meeting of shareholders of PPI (the "EGM") to be held on or about June 9, 2025. Tranche 1 and Tranche 2 are expected to be completed on or around May 20, 2025, while Tranche 3 is expected to be completed on or about June 10, 2025. A proportionate part of the PPI Shares issued in Tranche 1 and Tranche 2 will be sold to SBB I Norden. The remaining PPI Shares in Tranche 1 and Tranche 2 and all PPI Shares in Tranche 3 will be sold to APG. If the general meeting of PPI to be held on May 16, 2025, does not grant the authorizations required to issue the PPI Shares in Tranche 2, TRG may terminate the transaction. In the event that the EGM of PPI does not approve the issue of the Tranche 3 shares, Tranche 3 shall be settled by PPI making a cash payment to TRG equal to the higher of a) NOK 933 million and b) the product of i) 49,916,497 and iii) the arithmetic average of the daily VWAP of the PPI-share over five consecutive trading days, concluding on the last trading day prior to date of the EGM. A lock-up until November 12, 2025, has been agreed on the PPI Shares received by APG in the transaction, provided that the PPI Board may, at its sole discretion, waive the lock-up at any point in time. The PPI Shares issued in Tranche 1 will be issued under PPI's regular ISIN NO0013178616 and will be immediately tradeable on Euronext Oslo Børs upon issue. The PPI Shares issued in Tranche 2 and Tranche 3 will be issued and delivered under a separate interim ISIN, pending approval by the Financial Supervisory Authority of Norway of a listing prospectus for such shares (the "Prospectus"). Following approval of the Prospectus, these PPI Shares will be transferred to PPI's regular ISIN and become tradeable on Euronext Oslo Børs. Completion of the transaction is subject to customary closing conditions, in addition to what is described above. No competition or FDI filings are expected in connection with the transaction. SBB has committed to vote in favor of the required authorizations and issuance of the relevant PPI Shares, and to vote in favor of Aker's nominee to the PPI Board. TRG and Aker are considered related parties, and APG is an indirect subsidiary of Aker. In connection with the transaction between TRG and APG, a statement pursuant to Section 3-19 of the Norwegian Public Limited Companies Act has been prepared and will be made available on Arctic Securities AS has acted as financial advisor to the parties. In addition, DNB Carnegie has acted as financial advisor to Aker. BAHR and Mannheimer Swartling are acting as legal advisors for Aker. Thommessen and Roschier are acting as legal advisors for PPI. About SBB Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region's leading property company in social infrastructure. The Company's strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company's series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm, Large Cap. Further information about SBB is available at About Public Property Invest Public Property Invest is a real estate company with a long-term strategy of owning, operating and developing social infrastructure properties. The portfolio comprises socially beneficial properties housing public tenants with strategic locations across Norway. The company's strategy is focused on profitable growth through sustainable and efficient operations, tenant satisfaction and ability to renew and develop existing and new properties. Media contact:Atle Kigen, Head of Media Relations and Public Affairs, Aker ASATel: +47 90 78 48 78Email: Investor contacts:Svein Oskar Stoknes, Chief Financial Officer, Aker ASATel: +47 94 80 46 43Email: This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Marit Hval, Communications Advisor, Aker ASA, on May 13, 2025, 07:45 CEST. This information was brought to you by Cision View original content: Sign in to access your portfolio
Mint
12-05-2025
- Business
- Mint
To dominate the Arctic, Trump needs ice-breaking ships. Finland wants to help.
Smashing ice is straightforward—except when it is more than 10 feet thick and you're using a ship, even one designed for the job. If an icebreaker's hull is the wrong shape, the ice bends but doesn't break. Without the right paint, the ship grates against the ice like sandpaper. Spin the propellers too fast or too slow and deflected chunks of subsea ice can make the ship reverberate like a gong. Knowledge of pitfalls like these is why Finland has helped design or build around 80% of the world's icebreakers. Finns say they can churn out icebreakers more quickly and cheaply than anywhere else, putting them in prime position as countries race to access the Arctic's thawing seas. President Trump, who has pledged to buy or conquer Greenland, views the Arctic as a zone of future commerce and potential conflict. He has called for the U.S. to make a new fleet of icebreakers—and engineers from Finland are lining up to help. 'Ice is our playground,' said Mika Hovilainen, chief executive of Finnish icebreaker designer Aker Arctic. The company, which has a 246-foot-long ice-simulation tank, is now designing ships for countries including Canada and Sweden, and hopes to play a role in U.S. development plans. 'We want to be involved in every Western icebreaker,' said Hovilainen, who was lead designer on 10 icebreakers, including one that can operate sideways. Hovilainen has a shot at achieving his ambition because Aker is part of the world's leading network of companies making Arctic-ready engines, heating systems, antennas and other frostproof equipment. Finnish engineers have spent decades studying ice and how to design ships for it. 'What does Finland have to offer the United States? Number one is icebreakers,' said Finnish President Alexander Stubb in an interview. 'We build them faster than anyone in the world and at about half the price.' Trump, after recently meeting Stubb, posted on social media that he wanted to boost U.S.-Finnish ties, 'and that includes the purchase and development of a large number of badly needed Icebreakers for the U.S.' The U.S. has struggled to build icebreakers. The Biden administration in July struck a deal with Canada and Finland called the Icebreaker Collaboration Effort Pact to share expertise. The three governments in March reaffirmed their commitments to the ICE Pact. Icebreakers are purpose-built, which drives up costs. Only a few are produced worldwide annually, and they can last half a century. In most countries, know-how evaporates in the generation or so between new ships. But in Finland, because it has helped design or build more than 120 icebreakers over the past century, knowledge has deepened. Alongside Aker, Finland has three shipyards that can make icebreakers and has a network of suppliers. That equipment includes swiveling external engine pods that can pivot a ship in any direction and 'mill' their way through ice like a blender. According to local industry lore, the concept was developed by engineers sweating in another ultra-Finnish design: the sauna. 'Wherever you look in icebreaking, you'll find a Finn,' said Peter Rybski, a retired U.S. Navy officer now living in Helsinki. While Japan and South Korea are advanced economies that can still compete in building big commercial ships in large quantities, Rybski notes, Finland is unusual in its ability to profitably produce complex ships in small runs. Across town from Aker is Finland's largest icebreaker producer. Helsinki Shipyard, which was owned by Russian investors for a decade from 2013, just signed a contract to build an icebreaker for Canada. The yard's new Canadian owner, Davie Shipbuilding, wants to leverage the yard's know-how to win orders from Washington and to produce icebreakers in the U.S. Designs, components and production savvy could come from Finland. An icebreaker under construction in Helsinki in 1963. For the nation of 5.6 million people, which has Europe's longest border with Russia, unique skills for operating in the high north are a valuable asset. Icebreaker expertise has put Finland in demand inside the North Atlantic Treaty Organization, which it joined in 2023. 'It's a significant capability whose value is only going to increase now with the…contested Arctic,' said Foreign Minister Elina Valtonen. Finland learned to make icebreakers out of necessity because much of its trade with the West is via the Baltic Sea—one of the world's busiest waterways but the only crowded one that routinely ices up. Some Finns worry that icebreaker-production deals with shipyards in Canada or the U.S. could hand North Americans some of Finland's valuable expertise, said Rybski. The fear is overblown, he reckoned, because Finns' experience can't easily be replicated. During and after the Cold War, when Helsinki worked to stay friendly with Moscow, Finland was one of Russia's top icebreaker suppliers. Helsinki Shipyard even made hulls for nuclear-powered models that were completed in Russia around 1989 and still operate. Petroleum and minerals in the vast Russian Arctic fueled orders for extreme-weather ships. After Russia's large-scale invasion of Ukraine in 2022, that cooperation stopped. Finland forced Helsinki Shipyard's Russian investors to sell. In swooped Canadian company Davie Shipbuilding, owned by British investors who have focused on making complex, specialized vessels and innovative financing. The Niirala border crossing between Finland and Russia. Davie already runs a large shipyard in Quebec and recently won a contract for one of two planned Canadian icebreakers, which will be partly designed and built in Helsinki. Davie Chief Executive James Davies said a big part of what attracted his company to the Helsinki yard was Finland's unusual system for beginning ship construction while plans are still being completed, which is how the country can slash the time and cost to produce an icebreaker. 'When you look at the data, their approach is so well supported,' said Davies. Rybski credits Finland's democratic approach to business and few administrative hurdles, which means almost anyone can resolve questions quickly. Effective cooperation is critical because icebreakers are assemblies of complex systems built to handle some of the world's harshest conditions. Designers must understand from the outset a ship's mission, such as scientific research or bashing a path through ice for cargo ships. Many icebreakers can brave temperatures down to minus 50 degrees Fahrenheit, but if a ship won't face such frigid conditions, the cost savings can be significant. On top of that, every shipboard system must be engineered to withstand extreme cold. Plumbing for firefighting and cooling engines must avoid freezing. Air vents can't get blocked with snow or machinery may malfunction. If a ship can't handle the vibrations caused by bus-sized chunks of ice hitting propellers, said Aker's Hovilainen, 'you'll be raining antennas' as they shake loose. Adding to the complexity, icebreaking can't be modeled on computers the same way as motion through water and air. Impurities in ice like dust and sand introduce randomness that makes it impossible to predict exactly how a ship will behave. To understand which details are important, Aker runs scale-model ships through its tank repeatedly and sends teams out on actual icebreakers to compare real-world results with their predictions. Aker and its peers continually refine their computer models and understanding of how ships and ice interact. 'You cannot learn that from books,' Hovilainen said. Write to Daniel Michaels at
CBC
06-03-2025
- Sport
- CBC
National women's hockey championship coming to N.L. for first time
At a press conference dominated largely by men, the town of Conception Bay South and the city of Mount Pearl announced that professional women's hockey is coming to town. The Hockey Canada tournament adds to an already packed 2025, which the Newfoundland and Labrador government has declared the province's Year of the Sport. The growth of women's hockey in Newfoundland and Labrador has spiked so much in the past few years that "we can hardly keep up with the demand," said Christa Skinner, co-chair of the organizing committee. "The girls want to be a part of what's predominantly been a boy, male-dominated sport," she said. This will be the first time the U18 National Women's Hockey Championship will be held in N.L., and Skinner said hosting elite athletes in eastern Newfoundland will give young women something to aspire to. Arts and tourism minister Steve Crocker hopes the tournament — running from Nov. 3-8 — will attract visitors from across the country during a slow season for hotels and restaurants. The province committed $30,000 to the event through Celebrate N.L., according to Crocker, who said it's an opportunity for people to bring economic growth to towns outside of St. John's. Mount Pearl mayor David Aker echoes the excitement of bringing top athletes from "Canada's game" to his city. He said Mount Pearl has a good track record of hosting soccer tournaments and other events. Aker is confident the women's hockey championship will draw volunteers even after the Canada Games — which needs about 5,000 volunteers in more than 150 different roles over 30,000 shifts to cover all the events. "I look forward to the day where the under 18 teams — many of those people that are coming here — become part of Team Canada," said Aker. "You're going to see the best players in this country come to CBS and come to Mount Pearl." Darrin Bent, mayor of Conception Bay South, is thrilled to co-host some elite-level hockey. "I believe that it will help inspire a generation of female hockey players here at home to reach the next level, to deepen their love of the game," he said.
Yahoo
15-02-2025
- Business
- Yahoo
Aker ASA (AKAAF) Q4 2024 Earnings Call Highlights: Strategic Moves and Robust Dividends Drive Growth
Net Asset Value: NOK 58.2 billion at year-end after dividends, NOK 60.8 billion before dividends. Share Price Increase: Nearly 7% including dividends. Dividends Distributed in 2024: NOK 3.8 billion, representing NOK 51 per share. Proposed Cash Dividend for 2024: NOK 26.5 per share. Transactions in 2024: More than NOK 27 billion worth, including OneSubsea JV proceeds. Dividends from Portfolio Companies: Upwards of NOK 32 billion distributed. Aker BP Production Efficiency: 93% with a low-cost portfolio at $6.2 per barrel. Aker BP CO2 Intensity: 2.6 kg per barrel. Aker BP Operating Cash Flow: Record high. Aker BP Base Dividend Growth: 5% in 2025. Cognite Annual Recurring Revenue: $94 million, a 40% increase from the previous year. Financial Investments Portfolio: NOK 11.7 billion, up NOK 381 million from the previous quarter. Cash Holdings: NOK 617 million, down NOK 8 million from the previous quarter. Dividends Received in Q4: NOK 5.1 billion. Debt Repayment in Q4: NOK 1.9 billion. Net Asset Value at Quarter End: NOK 56.2 billion, equaling NOK 756 per share. Net Interest-Bearing Debt: NOK 2 billion at the end of the quarter. Profit Before Tax in Q4: NOK 4.9 billion. Warning! GuruFocus has detected 6 Warning Signs with AKAAF. High Yield Dividend Stocks in Gurus' Portfolio This Powerful Chart Made Peter Lynch 29% A Year For 13 Years How to calculate the intrinsic value of a stock? Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Aker ASA (AKAAF) reported a net asset value increase to NOK 58.2 billion at the end of 2024, up from NOK 57 billion the previous quarter. The company successfully completed several strategic transactions, including the sale of 80% of its carbon capture business, enhancing shareholder value. Aker ASA (AKAAF) distributed NOK 3.8 billion in dividends in 2024, with a proposed cash dividend of NOK 26.5 per share for 2025. Aker BP, a key asset, demonstrated strong operational performance with low production costs and emissions, contributing to Aker's robust financial results. Cognite, part of Aker's software portfolio, achieved a 40% increase in annual recurring revenue, highlighting its strong commercial development and potential for future growth. Aker ASA (AKAAF) faces significant market volatility and geopolitical uncertainties, impacting its strategic planning and operations. The company's ventures into the renewables sector have encountered challenges, including inflation and supply chain disruptions, affecting profitability. Aker Solutions' renewable projects have faced negative profitability, prompting a more selective approach to contract models. The energy transition strategy has proven to be overly optimistic, leading to a reassessment of investments in green energy. Aker Horizons is focused on de-risking projects and maintaining capital discipline, indicating potential challenges in executing its strategic initiatives. Q: Oyvind, you mentioned Aker Horizons and the ongoing process to optimize the company's capital structure. Can you say a bit more about this process and Aker's view on repayment of debt? A: Well, first and most importantly, carbon capture announced earlier this week distribution of NOK 2.5 billion in cash dividend to Aker Horizons and other ACC shareholders. In addition, Aker Horizons continues to develop its portfolio assets and businesses with the goal to partly monetize and free up capital. The refinancing of existing debt, both external and shareholder loans, will be addressed during the course of this year. Q: Has Cognite moved its headquarters to the US, and what is the latest on preparing for the IPO? A: The best way to create optionality, including positioning the company for a possible IPO, is to build a great company attractive to third parties. We have no specific timeline for an IPO, but Cognite continues to grow, with impressive increases in annual recurring revenue and expansion into other industry segments. Moving the headquarters to the United States aligns with our strategy, and opportunities will arise if Cognite continues on its current path. Q: What do you see as the main value triggers in Aker going forward? A: Aker BP is our biggest investment and continues to grow, with a long-term production profile that will increase cash flow and support increased dividends. Additionally, our software portfolio, including Cognite and ACE, presents exciting value triggers. We are also focusing on real estate, aiming to build a real estate yield company similar to our past success in the shipping segment. Q: You had an impressive dividend flow in 2024. Can you indicate how you see this upstream cash situation for the next year? A: Increasing upstream cash flow to Aker has been a strategic focus. In 2025, based on announced portfolio company dividends, Aker will receive approximately NOK 5.5 billion in upstream dividends. We have also announced transactions that could lead to extraordinary dividends, continuing the growth trend. Q: Aker's dividend policy indicates a level above the 4% to 6% range. What is the reasoning behind this decision, and will the policy be updated? A: The current dividend policy is to pay between 4% and 6% of asset value in cash dividends annually. However, Aker is opportunistic, and the board can decide on a different dividend based on financial strength, upstream cash flow, and investment capacity. This time, we proposed a dividend beyond the policy range, but the guidance remains 4% to 6%. Q: What is the reasoning for the delayed dividend payment from Aker Carbon Capture after the transaction closed? A: Aker Carbon Capture has created significant value since its spin-off from Aker Solutions. The dividend payment was delayed due to complex discussions regarding supporting the 20% shareholding in SLB Capturi and evaluating alternative investment opportunities. Ultimately, the dividend represents significant value creation for Aker and its shareholders. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
