Akastor completes Mitsui, MOL venture
Norwegian player finalises deal to sell half of AKOFS Offshore to new joint venture
Norwegian oil services player Akastor has completed an agreement to sell half of its subsidiary AKOFS Offshore to Mitsui of Japan.
Under an agreement signed in June, Mitsui & Co and Mitsui OSK Lines will each secure 25% interests in AKOFS Offshore for a combined net cash payment of $142.5 million to Akastor.
AKOFS Offshore owns and operates three subsea well construction and intervention vessels — the Skandi Santos, Aker Wayfarer and AKOFS Seafarer.
All closing conditions have been fulfilled, and the transaction was closed today according to the terms described in the 19 June agreement, Akastor said.
