09 Aug 22 News Global

Transaction Combining Mainstream and Aker Offshore Wind Has Closed

The transaction to combine Mainstream Renewable Power ("Mainstream") and Aker Offshore Wind to create a stronger renewable energy company with a 27 GW portfolio has closed.

As previously communicated on 12 July 2022, Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co., Ltd. and Irish minority shareholders, to integrate Aker Horizons’ wholly-owned subsidiary Aker Offshore Wind into the Mainstream group. The transaction has now closed.

In parallel with the combination of the two companies, a number of Mainstream’s minority shareholders participated in a further issuance of shares, raising approximately EUR 6 million in new capital.

Following closing of the transaction, Aker Horizons' ownership in Mainstream is approximately 58.4 percent, Mitsui & Co., Ltd. 24.9 percent, with remaining shares being held by Irish minority shareholders.