Aker Horizons ASA (OSE:AKH), controlled by Norway’s Aker ASA (OSE:AKER), is getting ready to wrap up its previously disclosed merger plans for Aker Offshore Wind AS (AOW) and Aker Clean Hydrogen AS (ACH) later this week.
As announced in late March, Aker Horizons wants to absorb the two platforms and make them privately-held subsidiaries through a couple of “triangular mergers”.
Both AOW and ACH said on Tuesday that the creditor notice period for their respective mergers with other fully-owned units of Aker Horizons is scheduled to expire at midnight on June 16. If no creditors object to the plan by then, the mergers should be completed after the close of trading on the Oslo Stock Exchange on June 17, 2022.
Eligible shareholders in AOW will get 0.1304 merger consideration shares in Aker Horizons for each share owned in AOW, while those of ACH will receive 0.2381 units of the same stock.
Aker Horizons said previously that it recognises “strong industrial logic” in merging AOW with its recently-acquired global renewables platform Mainstream Renewable Power, which is a transaction it also intends to pursue. As per ACH, its merger should make it easier to create partnerships across value chains and expand into new adjacent opportunities such as green iron, while improving access to competitive capital.
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