June 6, 2008 / 2:35 PM / 11 years ago

Aker cuts stake in Aker American Shipping

OSLO, June 6 (Reuters) - Norwegian industrial holding group Aker ASA (AKER.OL) has cut its stake in Aker American Shipping AKASA.OL to 19.9 percent from 53.2 percent, it said on Friday.

Aker said its finanical exposure to Aker American Shipping remained unchanged due to a swap agreement it had entered into.

“We are proud that Aker American Shipping is on its way to becoming a significant shipowner in the U.S. market,” Aker Chief Executive Leif-Arne Langoey said in a statement. (Reporting by Wojciech Moskwa and Richard Solem)

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