Successful Sale of Aker BP Shares

Source: www.gulfoilandgas.com 11/11/2021, Location: Europe

Following the announcement on 10 November 2021 regarding a possible block sale of shares in Aker BP, bp and Aker today confirm that they successfully sold 18,010,000 Aker BP shares, representing a combined approximate 5% of shares in the company, at a price of NOK 310 a share.

bp sold 7,718,571 shares, representing an approximate 2.1% stake in Aker BP, for a total of NOK 2.39 billion.

Following the sale, bp now holds an approximate 27.85% interest in Aker BP, Aker 37.14% and the free float of the company has increased to 35%. bp and Aker have entered into a 6-month lock-up for their remaining shares in Aker BP, subject to certain exemptions.

J.P. Morgan and Pareto Securities acted as Joint Global Coordinators, and Joint Bookrunners with DNB Markets, a part of DNB Bank ASA, Goldman Sachs International and Morgan Stanley & Co. International plc in the sale. Advokatfirmaet BAHR AS acted as Norwegian legal advisers.


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