Purchase of CSV Normand Tonjer
Solstad Offshore ASA (“Solstad” or “SOFF”) has exercised its option to purchase the CSV Normand Tonjer from Norwegian Mpsv AS (“Mpsv”) at attractive terms for Solstad. The vessel Normand Tonjer was sold to Mpsv for a gross amount of USD 10 million in 2021 and leased back on a bare boat agreement for a firm three-year period with options for two one-year extensions. At the end of year two, SOFF had an option to buy the vessel back for the net amount of USD 4 million. This option has been exercised and today, 20 December 2023, the purchase of the vessel was concluded. “We are very