Reference is made to the stock exchange notice dated 23 November 2017 where Aker ASA ("Aker") announced that Aker Capital AS ("Aker Capital"), a wholly owned subsidiary of Aker, and Oceanwood Capital Management LP ("Oceanwood") had entered into an agreement to establish a company for the purpose of bidding for the shares in Norske Skog AS ("Norske Skog").
Aker Capital and Oceanwood have decided to terminate their agreement. The parties did not come to an agreement regarding the terms of a joint bid for Norske Skog. Oceanwood has informed Aker Capital that it has proceeded in the process without Aker Capital. Aker Capital will not place an independent bid for Norske Skog.
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