UK fund manager Baillie Gifford Overseas Limited (“Baillie Gifford”) has today increased its shareholding in Aker Carbon Capture ASA from 6.64 percent to 12.59 percent following a transaction with Aker Horizons.
“Aker Carbon Capture is taking bold steps to accelerate the adoption of CCS, and the company is fundamental to Aker Horizons’ achieving its decarbonization goals,” said Kristian Røkke, Chief Executive Officer of Aker Horizons. “We have come to know Baillie Gifford as a thoughtful investor with a long-term horizon in support of companies vital to our future world. We are convinced that they can contribute to Aker Carbon Capture’s development as a front-runner in new end-markets.”
Through the transaction with Aker Horizons, Baillie Gifford Overseas Limited has acquired 35,900,000 shares in Aker Carbon Capture ASA from Aker Horizons Holding AS, each at a price of NOK 23.80 per share. Following the transaction, Baillie Gifford will own a total of 76,051,555 shares in Aker Carbon Capture ASA, corresponding to an ownership interest of 12.59 percent.
As part of the transaction with Baillie Gifford, Aker Horizons has also agreed to sell 6,116,807 shares in Aker Carbon Capture ASA to two other institutional investors at NOK 23.80 per share. As a result, Aker Horizons has sold a total of 42,016,807 shares in Aker Carbon Capture ASA for a total consideration of NOK 1 billion. Following the transactions, Aker Horizons will own 42.33 percent of the shares and votes in Aker Carbon Capture ASA, through its wholly owned subsidiary Aker Horizons Holding AS.
Carbon capture and storage (CCS) is recognized as a key solution for the world to reach the emissions cuts demanded by the Paris Agreement’s goals, and Aker Carbon Capture is pioneering solutions that increase the accessibility of carbon capture to a broader range of emitters, including in hard-to-abate sectors such as cement and waste management.
Baillie Gifford is a private partnership founded in 1908 and based in Edinburgh that manages £352bn of assets for their global client base across equity, fixed income, and multi-asset portfolios, all with a long-term mindset. To find out more, please visit www.bailliegifford.com.
Carnegie acted as financial adviser and Advokatfirmaet BAHR acted as legal adviser for Aker Horizons in the transaction.
This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.