Akastor Wraps Up AKOFS Offshore Stake Sale to Mitsui and MOL

Akastor has completed the transfer of 50% of its shares in AKOFS Offshore to Mitsui and MOL (Mitsui O.S.K. Lines) in order to form a joint venture ownership.

The closing of the transaction took place on September 26, 2018, following the fulfillment of all closing conditions.

Each of Mitsui and MOL purchased 25% of the shares in AKOFS Offshore, while the remaining 50% continues to be owned by Akastor.

The price for the 50% shareholding is USD 142.5 million, plus interest from locked box date, the company said.

The transaction will be booked in the third quarter.

AKOFS currently operates three subsea support vessels. Two, including the Skandi Santos, are chartered to Petrobras and another is planned to be chartered by Equinor.

Source link