Akastor ASA: Akastor and Mitsui create joint venture
Akastor ASA (OSE: AKA), an oil service investment company, announced today that it has signed a Heads of Agreement with MITSUI & CO., LTD, a leading Japanese trading and investment company, and its Japanese partner ("Mitsui"), to create a joint venture with 50/50 ownership between AKOFS Offshore AS ("AKOFS") and Mitsui. The joint venture will acquire both the Skandi Santos hull from DOF Subsea Rederi AS and the Skandi Santos topside from AKOFS. The joint venture will subsequently enter into a lease agreement with AKOFS corresponding to the remaining contract duration between AKOFS and