July 21, 2008
FLC West gets O.K. to take Aker Yards stake
Russian investment firm FLC West has confirmed to Aker Yards that it has received approval from Ukraine authorities to come in as a 70 percent shareholder in three of Aker Yards' shipyards in Germany and Ukraine.
As all approvals from regulatory authorities are now in place, Aker Yards and FLC West will proceed with finalizing the transaction within July.
Further details on final financial effects of the transaction will be presented at Aker Yards' presentation of the second quarter financial results on August 8.
Second quarter results were have to been presented August 15, but the Aker Yards board moved the date forward in order to help shareholders better evaluate the NOK 63 per share mandatory offer for all outstanding shares in the company made by STX.