Akastor ASA: Akastor signs agreements to form joint venture for the AKOFS Offshore business
Akastor ASA (OSE: AKA) has today entered into a Share Purchase Agreement with MITSUI & CO., LTD, ("Mitsui") and Mitsui O.S.K. Lines, Ltd. ("MOL") for transfer of 50% of its shares in AKOFS Offshore in order to form a joint venture ownership. The Share Purchase Agreement is entered into jointly with a Shareholders Agreement and includes the following main terms (the "Transaction"): · Ownership: Each of Mitsui and MOL will purchase 25% of the shares in AKOFS Offshore from Akastor. The remaining 50% will continue to be owned by Akastor. · Compensation: Initial net cash release