AH Tretten AS agreed to acquire 48.98% stake in Aker Offshore Wind AS (OB:AOW) for approximately NOK 1 billion on March 30, 2022. To facilitate the triangular Merger, Aker Horizons ASA will transfer all of its indirect shareholding in Aker Offshore Wind from its subsidiary, Aker Renewable Power AS, to AH Tretten AS, each at a price of NOK 2.5555 per share. Following the transfer of the 346,262,406 shares held indirectly by Aker Horizons ASA, Aker Renewable Power AS will no longer have any ownership interest in AOW, AH Tretten AS will own 346,262,406 shares in AOW, corresponding to an ownership interest of approximately 51.02% and Aker Horizons ASA's indirect shareholding in AOW will accordingly remain unchanged.

The merger will be carried out as a triangular merger whereby AOW will merge with Aker Horizons. AH Tretten AS as the surviving entity and Aker Horizons will issue consideration shares. The deal is subject to shareholders' approval of Aker Offshore, required permissions and approvals from governmental bodies and other conditions.

The transaction has been approved by Board of Directors of both Aker Horizons and Aker Offshore on March 30, 2022. As on may 4, 2022, the deal was approved by shareholders of Aker Offshore. The deal is expected to close in June 2022.

As of June 14, 2022, the merger is expected to be completed after close of trading on the Oslo Stock Exchange on June 17, 2022. Advokatfirmaet BAHR AS acted as legal advisor to Aker Horizons ASA (OB : AKH). DNB Markets and Carnegie AS acted as financial advisors to Aker Horizons ASA.

Pareto Securities AS acted as financial advisor and Advokatfirmaet Thommessen AS acted as legal advisor to Aker Offshore Wind. KPMG AS acted as independent expert to AH Tretten and is of the opinion the share ratio is fair.