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Aker Yards hires JP Morgan as advisor to study group's strategic alternatives


Published : Tue, 20 Nov 2007 14:49
By : Agencies
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OSLO (Thomson Financial) - Aker Yards ASA said it has hired JP Morgan as its international financial advisor to study the group's strategic alternatives after South Korean investment group STX bought a 39.2 pct stake in the Norwegian shipbuilder in October.

At that time, Aker Yards' chairman Svein Sivertsen said, 'We will now gather all relevant information in order to review the strategic alternatives available in order to maximise the value of Aker Yards.'

Earlier, the Aker Yards board engaged Arctic Securities ASA as financial advisors, and JP Morgan supplements this.

michael.delaine@thomson.com

mdl/rw

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