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Akastor completes sale of 50% of AKOFS Offshore to form Joint Venture with Mitsui and MOL

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Reference is made to the stock exchange release dated 19 June 2018 regarding Akastor's agreement to transfer 50% of its shares in AKOFS Offshore to MITSUI & CO., LTD, and Mitsui O.S.K. Lines, Ltd., who each will own 25% of the shares. All closing conditions have been fulfilled. The closing of the transaction took place on 26 September 2018 according to the terms and conditions described in the release.

As previously announced the price for the 50% shareholding is USD 142.5 million, plus interest from locked box date. The transaction will be booked in the third quarter.

For further information, please contact:

Leif Borge
Chief Financial Officer
Mobile: +47 917 86 291
E-mail: leif.borge@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

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