FORNEBU, Norway, March 4, 2025 /PRNewswire/ -- Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") has entered into a binding agreement to sell "Skandi Peregrino" for a purchase price of USD 25 million, which today has become firm. The agreement is entered into on Saleform 2012 terms, suitably amended, and completion is conditional on charterer's consent.

The agreement is expected to be completed in Q2 2025 whereby about USD 10 million of the purchase price will be used to repay a proportional portion of DDW Offshore's debt. Remaining debt with DDW Offshore will be about USD 19 million.

Upon completion, Akastor ASA intends to distribute a substantial portion of the net proceeds of about USD 15 million as cash dividend to its shareholders.

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
oyvind.paaske@akastor.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Jing Taklo, Head of Financial Reporting, Akastor ASA, on 4 March 2025 at 09:05 CET.

About DDW Offshore:

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and support clients on a world-wide basis. The vessels are specially designed to perform anchor-handling, towing, and supply services at offshore oil and gas fields.

For further information, please visit homepage: https://www.ddwoffshore.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.

This information was brought to you by Cision http://news.cision.com

View original content:https://www.prnewswire.co.uk/news-releases/akastor-asa-sale-of-skandi-peregrino-by-ddw-offshore-302391210.html

Tags

More Like This

Akastor ASA: DDW Offshore completes USD 31 million refinancing

Akastor ASA: DDW Offshore secures two contracts with an international oil company

Akastor ASA: DDW Offshore awarded contract extension

Akastor ASA: DDW Offshore awarded contract extension

Akastor ASA: Third Quarter Results 2023

Akastor ASA: Akastor purchases ownership interests in AKOFS Offshore from Mitsui

Akastor ASA: Completion of transfer of ownership interests in AKOFS Offshore

Akastor ASA: Odfjell Drilling Ltd shares received pursuant to Warrant Agreement