Aker Capital Takes Larger Stake in Solstad Offshore

Aker Capital AS has acquired 8,240,000 shares in Solstad Offshore ASA, at an average price of NOK 48.45 per share.

Following the transaction, Aker Capital holds 27,089,493 shares in the company, corresponding to an ownership interest of approximately 32.9%.
Aker Capital AS is 100% owned by Aker ASA and represented on the board of the company by Frank Ove Reite. Frank Ove Reite also owns 356,509 shares in the company, through Fausken Invest AS.

In its Q3 market update, Solstad was positive about demand for offshore services, both from oil and gas and renewables. “Tender activity and contract awards remained at a high level with improved commercial terms and increased willingness from clients to make longer commitments.”

The company has recently established a services division where additional services like ROVs, W2W systems, tooling, survey and project support are offered to clients in addition to the time charter of the vessels.