Aker Horizons, Aker Offshore Wind (AOW), and Aker Clean Hydrogen (ACH) will merge, according to a stock exchange announcement.
Both AOW and ACH are now privately owned subsidiaries of Aker Horizons.
Aker Horizons writes in its announcement that the merger strengthens their ability to accelerate energy transformation and maximize power and value creation.
- Today’s announcements strengthen Aker Horizons’ ability to accelerate the transition to green energy and green industry, while the company maximizes value creation, says Aker CEO Øyvind Eriksen in a comment.
There are also plans to merge AOW with portfolio company Mainstream Renewable Power, another subsidiary of Aker Horizons.
Existing shareholders of the company will receive 0.1304 Aker Horizons consideration shares for each AOW share they own.
ACH shareholders, in turn, will receive 0.2381 Aker Horizons shares for each ACH share they own.
The exchange ratio is based on a 30-day volume-weighted average price. The exchange ratio corresponds to a price of NOK 3.01 per share for Aker Offshore Wind and NOK 5.49 for Aker Clean Hydrogen.
Aker CEO Eriksen believes that today’s news demonstrates Aker Horizons’ ability to withstand market turmoil and at the same time position the company to increase the adaptation of clean energy and green technology to meet the EU’s urgent need for cheaper, safe, and sustainable energy.
By combining Aker Horizons’ deep industrial and technological expertise with Aker Asset Management’s (AAM) ability to mobilize private capital to finance large projects, the Aker Group is excellently positioned to meet market demands for improving energy efficiency, increasing renewable energy and electrification, and improving infrastructure bottlenecks, says Eriksen.
Yngve Slyngstad, CEO of Aker Asset Management (AAM), believes that Aker Horizons’ expertise in developing investment opportunities and managing projects globally makes it an ideal place to collaborate with Aker Asset Management.
- The transaction announced today strengthens Aker Horizons’ ability to initiate large green energy and industrial projects that AAM wants to invest in, says Slyngstad.