Aker Solutions Sells Fornebu Hotel Property

  • June 13, 2014
  • 08:30
  • Press release

June 13, 2014 - Aker Solutions has sold its stake in Quality Hotel Expo in Fornebu outside of Oslo for NOK 447 million.

The company divested its 93 percent holding in the property to Fornebu Hotellinvest AS, a syndicate set up by Pareto Project Finance AS. Aker Solutions will book a gain in the second quarter of about NOK 100 million after taxes and transaction costs.

The transaction values the entire property at NOK 473 million, corresponding to a yield of 6.3 percent based on the forecast net rent for the property in 2014.

The hotel was built by Aker Solutions in 2012 and has an 18-year remaining lease contract guaranteed by Choice Hotels and Resorts AS.

ENDS

For further information, please contact:

Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel: +47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani@akersolutions.com

Press Office: +47 908 42 894

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194, E-mail: lasse.torkildsen@akersolutions.com

Career opportunities:
Visit http://www.akersolutions.com/careers

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Our engineering, design and technology bring discoveries into production and maximize recovery from each petroleum field. We employ approximately 28,000 people in about 30 countries. Go to www.akersolutions.com for more information on our business, people and values.

This press release may include forward-looking information or statements and is subject to our disclaimer, see www.akersolutions.com.