Private equity group ups stake in Aker Philadelphia Shipyard

JULY 29, 2015 — Private equity group Apollo has increased its stake in Aker Philadelphia Shipyard ASA to 18.72%.

In an Oslo stock exchange announcement Aker Philadelphia ASA discloses:

The entities listed below have, on 28 July 2015, acquired 551,392 shares in Aker Philadelphia Shipyard ASA ("Aker Philadelphia"), representing approximately 4.36 % of the 12,574,766 outstanding shares and votes in Aker Philadelphia. The managers of the vehicles listed below are entities in the Apollo group; they typically exercise their voting rights in the issuer in the same way and as a result the entities listed below are consolidated as set forth in the Norwegian Securities Trading Act Section 4-3 (5) for the purpose of disclosure of large shareholdings.

Accordingly, the holdings of each of the vehicles are hereby disclosed. Apollo Management Holdings, L.P. is the parent of each of the managers identified below and makes this disclosure on behalf of each of the entities listed below.

Following settlement of the share acquisition, which is expected to take place on 31 July 2015, the entities listed below will collectively hold 2,355,314 shares in Aker Philadelphia, and will through the share acquisition have increased its shareholding in Aker Philadelphia from approximately 14.35 % to 18.83 %, such increase being subject to the disclosure obligation set out in the Norwegian Securities Trading Act, Section 4-3 subsection (1).

The table below provides the details of the shareholdings in Aker Philadelphia of each individual Apollo entity.

Apollo Credit NS Holdings (Lux) S.a.r.l. (Manager: Apollo SVF Management, L.P.)        

Shares               % of total shares/votes
2,261,422             17.98%        

Apollo Credit Strategies Master Fund Ltd. (Manager: Apollo ST Fund Management, LLC)
Shares                    % of total shares/votes
90,792                    0.72%        

Apollo Value Investment Master Fund, L.P. (Manager: Apollo Value Management, L.P.)    

Shares                    % of total shares/votes
3,100                         0.02%

Total (shares and voting rights held individually and  through assimilation):     
Shares                    % of total shares/votes
2,355,314                18.72%

Want more? Subscribe now!

News from NASDAQ