Joint Venture Ownership

In September 2016 AKOFS Offshore (“AKOFS”) and Akastor ASA (“Akastor”) entered a strategic partnership with the leading Japanese investment company Mitsui & Co Ltd ("Mitsui") and its shipping company Mitsui O.S.K. Lines Ltd ("MOL") to jointly own the SESV vessel Skandi Santos.

Following this, Akastor entered into a Share Purchase Agreement in June 2018, where each of Mitsui and MOL purchased 25% of the shares in AKOFS from Akastor forming a Joint Venture ownership of AKOFS Offshore. The remaining 50% will continue to be owned by Akastor.

Through this transaction, Mitsui and MOL will, as a long-term business partner, together with Akastor, assume an active role in the further support and development of AKOFS Offshore.

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