Norway-based oil-services investment company Akastor now controls 75% of the shares in AKOFS Offshore.
To remind, Akastor ASA and Mitsui & Co., Ltd (Mitsui) signed on November 6 an agreement for the transfer of all of Mitsui’s interests in AKOFS Offshore AS to Akastor.
At the time, Akastor said in the announcement that “following completion of the transaction, Akastor will hold 75% of the shares in AKOFS Offshore while the remaining 25% will remain owned by Mitsui O.S.K. Lines, Ltd. (MOL).”
Akastor issued a new statement yesterday mentioning that the transfer has been completed as per the terms agreed, whereby Akastor now controls 75% of the shares in AKOFS Offshore.
Meanwhile, the company said in its announcement yesterday that “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 January 14.”
Additionally, Akastor and MOL have entered yesterday into a separate transaction agreement for the 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.
The completion of the transaction is expected to take place later in the first quarter of 2025.
AKOFS Offshore will remain as a jointly controlled entity to Akastor.
