Sale of SBM Installer
SBM Installer is a diving support & construction vessel owned by OS Installer Limited, a joint venture (“JV”) owned 75% by Ocean Yield ASA (“Ocean Yield”) and 25% by SBM Holding Inc S.A. (“SBM”), and employed on a long-term charter to SBM.
Ocean Yield has agreed to sell the 75% equity in the JV to SBM for a price of about USD 30 million with closing of the transaction 30 September 2020. The transaction will have no significant profit and loss effects for Q3 2020.
The transaction is subject to final documentation.
Eirik Eide (CFO), Tel +47 24 13 01 91
Investor Relations contact:
Marius Magelie (SVP Finance & Investor Relations), Tel +47 24 13 01 82
Ocean Yield ASA is a ship owning company with investments in vessels on long-term charters. The company has a significant contract backlog that offers visibility with respect to future earnings and dividend capacity.