Acquisition of four LR2 product tankers with long-term charter
Ocean Yield ASA ("Ocean Yield" or the "Company") is pleased to announce that the Company has agreed to acquire four modern LR2 product tankers with long-term charter to companies owned and guaranteed by Navig8 Topco Holdings Inc. (“Navig8 Group”) from a major Chinese leasing company. The net purchase price is around USD 132 million in total, or an average price of USD 33 million per vessel, depending on the closing date for each vessel, which is expected to be during the fourth quarter of 2019. The scrubber fitted vessels are built in 2018 and 2019 with about 9 year’s remaining bareboat