Aker Carbon Capture ASA (ACC) has agreed to sell its 20% stake in SLB Capturi to Aker ASA as part of a plan to return capital to shareholders and dissolve the company.
The deal follows a strategic review that concluded the sale offers the best value for shareholders.
Aker, through its subsidiary ACC HoldCo, will acquire the stake for NOK 635 million (~$61 million) in cash, valuing ACC shares at NOK 3.03 (~$0.30) each — a 15% premium over the last closing price and 19% above the 30-day average.
To support the transaction, Aker Capital AS will also guarantee ACC’s outstanding liabilities related to SLB Capturi, freeing up additional reserves for distribution.
After the sale, ACC’s board will propose a cash dividend of around NOK 1.7 billion (NOK 2.86 per share) (~$164 million, ~$0.28 per share), funded by both the sale proceeds and existing reserves.
An extraordinary general meeting to approve the payout is expected on May 15, 2025, with the transaction and dividend completion targeted for Q3 2025.
Relevant: Aker Carbon Capture ASA Proposes Massive $314M Cash Dividend
Following this, ACC’s board plans to propose the company’s liquidation, with any remaining funds distributed to shareholders. A second shareholder vote is expected later in 2025.
Karl Erik Kjelstad, Chairman of Aker Carbon Capture, stated: “This transaction grants shareholders early access to capital-two years ahead of the original timeline-through a carefully structured combination of cash distributions and dividends, delivering meaningful value amid a period of pronounced market volatility.”
“Following a thorough strategic review, we are confident that this represents the best path to timely value realization for our shareholders. Furthermore, we are pleased that the transaction will reinforce strong industrial ownership in SLB Capturi, a joint venture dedicated to accelerating industrial decarbonization.”
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