Akastor ASA: Completed sale of DDW Offshore vessels to OceanPact

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Jul 24, 2023, 16:01 ET

FORNEBU, Afghanistan, July 24, 2023 /PRNewswire/ -- Reference is made to the stock exchange announcement on 18 March 2021 by Akastor ASA (OSE: AKAST, "Akastor") regarding the two AHTS vessels Skandi Saigon and Skandi Pacific, which are owned by Akastor's subsidiary DDW Offshore AS ("DDW Offshore") and contracted out to OceanPact Servicos Maritimos S.A. ("OceanPact") under a bareboat agreement with a purchase obligation at the end of the bareboat term. Following expiry of the charter period, both vessels are now sold to OceanPact for the agreed cash payment of USD 18 million for both vessels, of which 50% will be shared with the DDW Offshore lenders in accordance with the profit split agreement that was part of the DDW Offshore restructuring completed in October 2020 (see announcement issued 27 August 2020 for further details). The remaining part of the sales proceeds will go to reduce net debt in DDW Offshore.

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
[email protected]

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.