Aker and BP have successfully carried out a plan to sell 5% of their Norwegian joint venture company, Aker BP.

Together, Aker and BP received about $650 million for the sale of shares.

Aker sold 10.3 million shares and BP sold 7.7 million shares at Nkr310 ($35.69) each, which represented a discount of about 10% against the share price at the time of sale.

Aker received approximately Nkr3.2 billion ($370 million) and BP received about Nkr2.4 billion ($280 million).

Aker is left with 133,757,576 shares in the joint venture, representing approximately 37.14% of the outstanding shares.

BP holds 100,302,878 shares, representing approximately 27.85% of the outstanding shares.

Last Wednesday, BP and Aker said they were contemplating the sale of a 5% stake in their joint venture to capture some of the value which the company has generated since its creation five years ago.

"This transaction will enable BP to realise some of the considerable value Aker BP has already generated while remaining committed to its ongoing success and value creation for shareholders," BP chief executive Bernard Looney said in a statement posted on BP's website.

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