Akastor, Mitsui and MOL Announce Closing of Joint Venture Transaction (Scandinavian Oil-Gas Magazine)

Akastor, Mitsui and MOL Announce Closing of Joint Venture Transaction

Published Nov 24, 2016

Akastor ASA, an oil service investment company, has announced that the agreement with MITSUI & CO., LTD and Mitsui O.S.K. Lines, Ltd. (MOL), to create a joint venture with 50/50 ownership between AKOFS Offshore AS and Mitsui/MOL has now been approved and concluded according to the terms and conditions described in the press release of September 20, 2016.

As a consequence, AKOFS will realise a cash gain of USD 66 million, and Akastor will realise an accounting gain of approximately USD 20 million. The accounting gain will be booked in Q4 2016.

Tags: Akastor ASA, MITSUI & CO. LTD, Mitsui O.S.K. Lines Ltd.

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