Octopus Bidco AS announces that the 61.65 per cent minimum acceptance condition has been satisfied for the recommended voluntary cash offer for all the shares in Ocean Yield ASA

Reference is made to the announcements on 13 September and 6 October 2021 and the offer document dated 5 October 2021 (the “Offer Document”) for the recommended voluntary offer (the “Offer”) by Octopus Bidco AS (the “Offeror”), a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (“KKR”) for all outstanding shares in Ocean Yield against a consideration in cash of NOK 41.00 per share.

The Offeror hereby announces that the largest shareholder of the Company, Aker Capital AS, representing 61.65 per cent of the outstanding shares in the Company, has irrevocably accepted the Offer. The Offeror has accordingly passed the 61.65 per cent minimum acceptance condition.

Completion of the Offer remains subject to the fulfilment or waiver by the Offeror of the conditions for closing of the Offer as set out in the Offer Document, other than the minimum acceptance condition, including the receipt of regulatory approvals, as further set out in section 4.5 (Closing Conditions) in the Offer Document. None of the conditions that refers to events that shall not occur have, to the Offeror’s knowledge, occurred. The complete terms and conditions for the Offer, including procedures for how to accept the Offer and detailed information regarding settlement, are set out in the Offer Document.

Shareholders that want to accept the Offer must fill out and return the acceptance form which is included in the Offer Document by 16:30 hours on 5 November 2021 (subject to extension).
Source: Ocean Yield ASA