Aker now considering sale of Aker Kvaerner stake - report |
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Fri, 30 Mar 2007 08:05
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OSLO (AFX) - Industrial holding company, Aker ASA, is considering the sale of its 40.1 pct stake in engineering group Aker Kvaerner ASA, only weeks after stunning the market by selling out of Aker Yards ASA, Norwegian television network TV2 is reporting.Citing unnamed sources, the privately-owned network said late last night that Aker was working on a deal to dispose of its entire stake in Aker Kvaerner, which, at current prices, would be worth almost 16.5 bln nkr.'Aker Kvaerner is not a holy cow for us,' TV2 quoted Aker's chief executive Leif-Arne Langoey as saying.'We run and own companies as if we will own them forever until we do something else,' Langoey said.Earlier this month Aker shocked investors by selling its 40.1 pct stake in Aker Yards, only months after telling investors it had no plans to do so.Having made a similar statement after selling down its stake in Aker Kvaerner from 50.1 pct to the existing 40.1 pct, analysts in Oslo say they have become increasingly sceptical about 'what the company says, and then what it does'.alastair.reed@thomson.comar/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Aker joins forces with Aker Kvaerner, Aker Yards to form Aker Innovation 