Government-owned company acquires Aker ArcticNews // December 20, 2013
A government owned investment company, Finnish Industry Investment Ltd, has acquired a 66.4 per cent majority stake of the shares of Aker Arctic Technology Oy (Aker Arctic) from STX Finland Oy.
The company's other shareholders ABB Oy Finland and Norway's Aker Engineering and Technology AS, part of the Aker Solutions group, are holding equal shares, each 16.8 per cent.
The value of the deal is 9.3 million euros. The acquisition is being carried out at market terms based on an external expert valuation. At the same time, the minority shareholders will increase their share in Aker Arctic on equal terms with the state acquisition.
“Arctic shipping is expected to increase substantially in the upcoming years and decades. As a world leader in solutions for development of Arctic engineering Aker Arctic has good prospects to gain a significant market share in the industry. This of course also has a positive impact on the company´s long-term value. That is why I consider this deal highly successful from the state’s point of view”, said Finland's Minister of Economic Affairs, Jan Vapaavuori.