Norwegian Aker agrees to expand loan to Aker BioMarine by NOK 20 million

Posted On: March 28, 2010

Norwegian biotechnology company Aker BioMarine ASA (OSL: AKBM) said it agreed today with its main owner, industrial holding Aker ASA (OSL:AKER), to expand the short-term loan from it with NOK20m.

In September 2009, Aker BioMarine said it will borrow up to NOK90m from Aker. The company would initially get a loan of up to NOK50m and the remainder would be made available when it had presented a refinancing plan and got it approved by Aker.

Since then, Aker BioMarine has had a positive development with sales growth and a good start to the fishing season, which, however, has led to a need for an increased working capital.

More info