In the third quarter, Aker's Net Asset Value (NAV) ended at
"If the pace of the pre-corona world was fast, time has become nothing short of a luxury in 2020. Accelerating global trajectories have certainly impacted our own transition and made the third quarter a period of high activity to unlock shareholder value and position Aker for future growth," said Øyvind Eriksen, President and CEO at
The total value of Aker's industrial portfolio decreased by
"As the smoke of 2020 clears, business opportunities have risen like a phoenix from the ashes. We have witnessed a record number of listings and the capital markets report on an extraordinary deal flow. At Aker, we were quick to seize the opportunity to maintain capacity and competency of vital importance to the oil and gas industry, as well as enable a transition into new business segments, which has resulted in strong shareholder return and a record low discount to the NAV during the period," said Eriksen.
"It has been a busy period across the portfolio and just a few days ago we were very pleased to announce Accel as a new minority shareholder and strategic partner for Cognite. Accel is a leading global venture capital firm with deep domain experience and expertise in building world class software companies. Their insight and expertise in scaling best-in-class software companies globally marries perfectly with Aker's deep industrial knowledge. We look forward to working together with Accel to further scale and commercialize Cognite's industrial software platform for the global market," said Eriksen.
Aker's liquidity reserves, including undrawn credit facilities, stood at 5.4 billion as per
The value-adjusted equity ratio for the third quarter was 73 per cent, compared to 75 per cent as per
On
The full report and presentation can be downloaded from www.akerasa.com
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Net Asset Value (NAV) is
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