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AFH gets 92.87% in Aker Floating Production.


14 March 2012 - Norwegian oil services company Aker Floating Production ASA (OSL:AKFP) said on Wednesday its suitor Aker Floating Holding AS (AFH) had reached an ownership level of around 92.87% in it by 14 March under its takeover offer.

AFHa[euro](tm)s offer for the remaining AKFP stock not already owned was launched on 2 March and secured 20.53% of AKPF shares by the expiry deadline on 12 MarchA and via further acceptance until 14 March, the target firm said in a statement.

The settlement for the acquired shares is expected by 19 March.

The bid was made at NOK3.63 (USD0.63/EUR0.50) a share in cash, valuing the AKFP shares not owned by AFH before its launch at NOK22.1m, the buyer said in an earlier press release.Country: NorwaySector: Water Transport, Petroleum/Natural Gas/CoalTarget: Aker Floating Production ASA Buyer: Aker Floating Holding AS (AFH)Deal size in USD: 4m

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Publication:M & A Navigator
Date:Mar 14, 2012
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