Norway's Aker: No Change in Kvaerner Strategy

Norwegian conglomerate Aker ASA plans no change of strategy for it's majority owned oil services company Kvaerner (KVAER.OL) after private equity fund HitecVision last week increased its ownership to 11.1 percent.

"We don't see any changes in Kvaerner because of HitecVision making that investment", Aker Chief Executive Oeyvind Eriksen said during Aker's third-quarter earnings presentation on Wednesday.

Aker owns 58.1 percent of the shares in Kvaerner.

HitecVision is a private equity investor specialising in buyouts and growth-stage investments in the oil and gas industry.

Reporting by Ole Petter Skonnord