{"id":28327,"date":"2021-12-04T19:16:23","date_gmt":"2021-12-04T16:16:23","guid":{"rendered":"https:\/\/www.al-sindbad.net\/kkr-starts-ocean-yield-takeover-as-aker-accepts-the-deal\/28327\/"},"modified":"2021-12-04T19:16:23","modified_gmt":"2021-12-04T16:16:23","slug":"kkr-starts-ocean-yield-takeover-as-aker-accepts-the-deal","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/kkr-starts-ocean-yield-takeover-as-aker-accepts-the-deal\/28327\/","title":{"rendered":"KKR starts Ocean Yield takeover as Aker accepts the deal"},"content":{"rendered":"<p><\/p>\n<div class=\"entry-content entry clearfix\">\n<div class=\"mailmunch-forms-before-post\" style=\"display: none !important;\"><\/div>\n<p>US investment firm Kohlberg Kravis Roberts (KKR) has launched an $830m takeover of Norwegian shipowner Ocean Yield after a majority of its shareholders approved the deal.<\/p>\n<p>Ocean Yield\u2019s largest shareholder, Aker Capital, representing 61.65% of the outstanding shares in the company, has irrevocably undertaken to accept the offer on the first day of the offer period. The sale should result in a cash release of around NOK4.4bn to Aker, which will be used to invest in current and new business opportunities.<\/p>\n<p>The offer is for all outstanding shares in Ocean Yield against consideration in cash of NOK41 per share. It commenced on October 6 and will last until November 5 this year. KKR may extend the offer period one or several times, but no more than seven days each time until December 15.<\/p>\n<div class=\"mailmunch-forms-in-post-middle\" style=\"display: none !important;\"><\/div>\n<p>In addition, Octopus Bidco, a company indirectly wholly owned by funds advised by KKR, has received pre-commitments from Ocean Yield\u2019s board members and executive management, as well as certain other related parties, together holding around 2.02% of the company\u2019s shares, to accept the offer on the last day of the acceptance period.<\/p>\n<p>According to VesselsValue, Ocean Yield today has a fleet of 52 vessels, including 24 tankers, 10 bulk carriers, five vehicle carriers, four containerships and four offshore support vessels.<\/p>\n<div class=\"mailmunch-forms-after-post\" style=\"display: none !important;\"><\/div>\n<div class=\"stream-item stream-item-below-post-content\">\n<div id=\"div-gpt-ad-1_95_0_1_2\"> <script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); });<\/script> <\/div>\n<\/div>\n<div class=\"post-bottom-meta post-bottom-tags post-tags-modern\">\n<div class=\"post-bottom-meta-title\">\n<span class=\"tie-icon-tags\" aria-hidden=\"true\"><\/span> Tags<\/div>\n<p><span class=\"tagcloud\"><a href=\"https:\/\/splash247.com\/tag\/norway\/\" rel=\"tag\">Norway<\/a> <a href=\"https:\/\/splash247.com\/tag\/united-states\/\" rel=\"tag\">United States<\/a><\/span>\n<\/div>\n<\/div>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US investment firm Kohlberg Kravis Roberts (KKR) has launched an $830m takeover of Norwegian shipowner Ocean Yield after a majority of its shareholders approved the deal. Ocean Yield\u2019s largest shareholder, Aker Capital, representing 61.65% of the outstanding shares in the company, has irrevocably undertaken to accept the offer on the first day of the offer &hellip;<\/p>\n","protected":false},"author":1,"featured_media":28328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":["post-28327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tanker-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/28327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=28327"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/28327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/28328"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=28327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=28327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=28327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}