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Aker ASA listed after Kvaerner merger.
(From Lloyds List)
Byline: Jerry Frank
NORWEGIAN tycoon Kjell Inge Rokke has taken another step in his plan to breathe life into the former Aker Kvaerner industrial empire with the merger of his private investment arm Aker RGI with holding group Kvaerner to create a new Oslo-listed company.
Industrialist Mr Rokke's new Aker ASA joins on Oslo's stock exchange the recently created energy and construction entity Aker Kvaerner, which listed in April, with reformed shipyard business Aker Yards also due to list later this month.
A further split is then set for the autumn, when the newly formed parent company will break again into Aker ASA and Kvaerner, both with individual listings in Oslo.
Mr Rokke's intricately choreographed listing plan will mean four separate tickers will emerge in Oslo by the end of the year out of the shortlived Aker Kvaerner group.
Investors and analysts have already expressed concern that not enough financial information has been released before the merger about Rokke's private investment wing Aker RGI.
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