Aker ASA restructures its assets with two mergers and a $57.9mn acquisition

Aker ASA merges Aker Horizons and acquires a stake in SLB Capturi, consolidating its portfolio while preparing for a significant dividend distribution.

Share:

Norwegian industrial group Aker ASA has announced two operations aimed at streamlining its holding structure and strengthening the liquidity of its renewable energy-related entities. The transactions include the merger of Aker Horizons Holding with an Aker ASA entity, as well as Aker Capital’s acquisition of a stake in SLB Capturi AS for $57.9mn. These actions follow a strategic review initiated to refinance Aker Horizons ASA.

Internal merger and debt reorganisation

Under the merger terms, shareholders of Aker Horizons ASA — excluding Aker Capital — will receive 0.001898 Aker ASA shares and a cash payment of NOK 0.267963 ($0.025) per share held. The exchange ratio is based on the 30-day volume-weighted average share prices of both companies. Aker Horizons Holding will consolidate all group assets, including stakes in Aker Carbon Capture ASA, Mainstream Renewable Power, and real estate in Narvik.

Aker ASA plans to deliver the shares either from treasury stock or by issuing new shares under existing board authorisations. Simultaneously, Aker Horizons’ NOK 2.5bn ($228mn) green bond will be redeemed early ahead of its original August 2025 maturity date, using existing cash reserves. This will reduce interest costs over the remaining term.

Capital structure optimisation

Holders of the NOK 1.6bn ($146mn) convertible bond will be offered a redemption at 93 % of face value. Aker Capital will retain NOK 1.3bn ($118.5mn) of this debt on its balance sheet. Other loans held by Aker Horizons will be transferred to the merged entity and continued under existing conditions.

Additionally, Aker Capital acquired a 20 % stake in SLB Capturi AS for NOK 635mn ($57.9mn), and assumed Aker Carbon Capture ASA’s guarantee commitments to SLB. This transaction is intended to increase ACC’s distributable reserves, creating a liquidity event for shareholders.

Proposed special dividend for shareholders

Following the completion of the stake sale, the board of directors of Aker Carbon Capture will propose a special dividend of approximately NOK 1.7bn ($155mn), subject to approval by the extraordinary general meetings of both Aker Horizons and Aker Carbon Capture. The involved boards consider these operations to be in the economic interest of shareholders and have deemed their execution advisable.

Atlantica Sustainable Infrastructure takes over Statkraft’s Canadian platform, including all operational and development-stage wind, solar, and storage assets in Canada.
Energy group Engie confirms its financial outlook for 2025 despite what it describes as an uncertain international context and lower prices that weighed on its results in the first half.
Encavis AG announces the acquisition of a 199 MW portfolio consisting of three wind farms and two photovoltaic plants in Aragon, marking a key step in the group's technological diversification in Spain.
TC Energy reports higher financial results in the second quarter of 2025, boosts investments and anticipates a rise in annual EBITDA driven by growing natural gas demand in North America.
Saturn Oil & Gas reports a reduction in net debt by $86mn in the second quarter of 2025, achieving record free cash flow and production above forecasts in the North American market.
Cenovus Energy announces a net profit of $851mn for the second quarter of 2025, while accelerating the completion of its main growth projects and strengthening its strategic position despite temporary operational constraints.
Analysis of sectors spared by Trump tariffs exposes the vulnerability of US industrial supply chains to Brazilian resources.
A partnership between Nscale, Aker and OpenAI will create Stargate Norway, an artificial intelligence infrastructure site powered by renewable energy, set to house 100,000 NVIDIA GPUs in Northern Norway by the end of 2026.
Shell’s half-year net profit falls to USD8.38bn as the group announces a new share buyback programme, amid lower hydrocarbon prices and ongoing cost reductions.
Legrand reports a significant increase in half-year profit, fuelled by growing demand from data centres and reinforced growth prospects for the coming years.
Schneider Electric’s revenue reached EUR19.3bn in the first half, supported by strong data centre activity and growth across all its main markets.
Subsea 7 reports a strong increase in its financial results for the second quarter of 2025 and announces a definitive agreement for a merger with Saipem, while maintaining its growth outlook for the year.
Scatec ASA and Aboitiz Power secure approval for an increased tariff on ancillary services, generating more than $21mn in retroactive revenue on the Philippine market.
Enbridge confirms dividend payments for its common and preferred shares, consolidating its shareholder return policy amid stability in the North American energy sector.
Cox aims to acquire Iberdrola’s 15 power plants in Mexico for EUR4 bn (USD4.69 bn), strengthening its presence in a changing market.
Guzman Energy has finalised a $80mn revolving credit facility with BciCapital to strengthen its liquidity and support its growth in the Western U.S. energy markets.
Chevron announces the appointment of John B. Hess, former executive of Hess Corporation, to its board of directors, marking a strategic step for the group’s governance in a context of transformation in the energy sector.
Nexans reports a 113% increase in net profit for the first half, supported by the growth of its electrification activities and the upward revision of its financial targets for the year.
The European Commission opens an in-depth investigation into Adnoc’s purchase of German chemical group Covestro, questioning the potential impact of foreign subsidies and competition within the European internal market.
Stonepeak announces the creation of JouleTerra, a platform dedicated to the aggregation and management of grid-connected land, aimed at supporting the deployment of renewable energy infrastructure throughout the European continent.