Aker CEO Røkke accuses Kistefos of “Black Campaign” in Solstad Refinancing Dispute
Oslo, Norway - Aker CEO Kjell Inge Røkke has launched a sharp attack on Kistefos and its owner Christen Sveaas, alleging a deliberate media campaign to damage Aker’s reputation amidst a legal battle over the 2023 refinancing of shipping company Solstad. The dispute centers on claims that Aker secured an unfair advantage during the financial restructuring.
The conflict stems from Kistefos’s belief that Aker benefited disproportionately when Solstad was refinanced last year. Røkke, who had previously declined to comment extensively on the matter, has now responded with a letter to Aker shareholders, characterizing Kistefos’s actions as a calculated effort to discredit the company. This legal challenge unfolds as Solstad Maritime recently distributed 233 million in dividends.
In his letter, Røkke directly accuses Kistefos of orchestrating a “coordinated and conflict-oriented PR race” through Geelmuyden Kiese, filled with “serious claims, accusations, falsehoods, pointed formulations, overtramp, libel and characteristics.” He vehemently denies Kistefos’s assertion that they attempted to participate in refinancing solutions, stating, ”They never did.”
Røkke further dismisses the lawsuit as “absurd and unbelievable,” arguing that no financial harm has been done. He points to the notable gains shareholders have experienced since Aker proposed a solution in October 2023, stating, “The shareholders have more than doubled the money.”
Kistefos CEO Bengt A. Rem responded to Røkke’s letter in a statement to Dagens Næringsliv, calling it “an elegant attempt to derail the case by pointing out that ‘everyone’ has made money.” Rem reiterated Kistefos’s position that Aker profited excessively from the refinancing, emphasizing that Kistefos acts in the interest of the shareholder community while Røkke prioritizes Aker’s interests.
Rem declined to address specific claims or personal attacks made in Røkke’s letter, stating that the matter will be litigated in court. The case is scheduled to begin next week, and Kistefos intends to present its arguments through legal counsel.
