Reference is made to press release dated 6 November 2024 concerning the
agreement between Akastor ASA (OSE: AKAST) and Mitsui & Co., Ltd. ("Mitsui") on
the transfer of all of Mitsui's interests in AKOFS Offshore AS ("AKOFS
Offshore"). The transfer has today been completed as per the terms agreed,
whereby Akastor now controls 75% of the shares in AKOFS Offshore.
Simultaneously with the above-mentioned completion, the remaining two
shareholders Akastor and Mitsui O.S.K. Lines, Ltd. ("MOL") have entered into a
new shareholders agreement effective as from today. Additionally, Akastor and
MOL have today entered into a separate transaction agreement for transfer of
8.3% of the shares in AKOFS Offshore from Akastor to MOL, which when completed
will give an ownership interest of 2/3 and 1/3, respectively. The transaction is
entered into on an "as is "basis, on substantially same commercial terms as
Akastor's acquisition from Mitsui and includes transfer of a proportional
portion of the shareholder loans and debt interests relating to AKOFS Offshore.
Completion of the transaction is expected to take place later in Q1 2025. AKOFS
Offshore will remain as a jointly controlled entity to Akastor.
For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
oyvind.paaske@akastor.com
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.
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About AKOFS Offshore:
AKOFS Offshore is a provider of vessel-based subsea well installation and
intervention services to the oil and gas industry. The company operates three
specialized offshore vessels, AKOFS Santos, Aker Wayfarer and AKOFS Seafarer,
with the first two vessels contracted to Petrobras for work in Brazil and the
last one contracted to Equinor for work on the Norwegian Continental Shelf. The
company employed 360 people as per the end of 2024. AKOFS Offshore is owned by
Akastor AS (75%) and Mitsui O.S.K. Lines, Ltd. (25%).
For further information, please visit homepage: https://www.akofsoffshore.com
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.