Aker Capital to acquire a 50% stake of 7 tankers with long-term charters from Ocean Yield for $10m.

Aker Capital, an investment management firm, agreed to acquire a 50% stake of 7 tankers with long-term charters from Ocean Yield, a provider of investments in vessels with the oil-service and industrial shipping industry, for $10m. The JV will be accounted for as an investment in an associated company and will strengthen Ocean Yield’s equity ratio with more than 2% points as the JV’s bank debt will no longer be consolidated. Due to the low amount of new capital raised in the transaction, the impact on net profit will be limited.