AKAST - AKAST STOCK NEWS

Welcome to our dedicated page for AKAST news (Ticker: AKAST), a resource for investors and traders seeking the latest updates and insights on AKAST stock.

Akastor ASA (AKAST) is a prominent Norway-based oil-services investment company that specializes in managing a diverse portfolio of industrial holdings and other investments. With a flexible mandate for active ownership and long-term value creation, Akastor is committed to driving operational excellence and strategic growth across its subsidiaries.

One of Akastor's key subsidiaries is DDW Offshore AS, which has recently been in the news for selling two AHTS vessels, Skandi Saigon and Skandi Pacific, to OceanPact Servicos Maritimos S.A. for a total cash payment of USD 18 million. This sale follows a bareboat agreement and is part of a broader restructuring effort completed in October 2020. The proceeds from the sale will be used to reduce net debt, with 50% shared with DDW Offshore lenders as per the profit split agreement.

Akastor's strategic investments span various sectors within the oil and gas industry, aiming to enhance value through active participation and oversight. The company is dedicated to implementing sustainable practices, optimizing asset performance, and exploring new growth opportunities in the energy sector.

For investors and stakeholders, Akastor represents a reliable entity with a strong track record of financial stability and a commitment to maximizing shareholder value. The company’s robust governance framework and transparent financial reporting ensure that it remains a trusted name in the investment community.

In recent years, Akastor has focused on building strategic partnerships and expanding its global footprint, thereby strengthening its position in the market. The company continues to explore innovative technologies and sustainable solutions to stay ahead in the dynamic energy landscape.

07/24/2023 03:57 PM

News

Akastor ASA: Completed sale of DDW Offshore vessels to OceanPact

Rhea-AI Summary

Akastor ASA (OSE: AKAST) completed the sale of two AHTS vessels, Skandi Saigon and Skandi Pacific, to OceanPact for a total of USD 18 million. The sale proceeds will be used to reduce net debt in DDW Offshore, with 50% shared with DDW Offshore lenders. Akastor is a Norway-based oil-services investment company with a flexible mandate for active ownership and long-term value creation.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-- %

FAQ

What does Akastor ASA specialize in?

Akastor ASA is an oil-services investment company that manages a portfolio of industrial holdings and other investments, focusing on long-term value creation.

What recent sale did Akastor complete?

Akastor recently sold two AHTS vessels, Skandi Saigon and Skandi Pacific, to OceanPact Servicos Maritimos S.A. for USD 18 million.

How will the proceeds from the recent vessel sale be used?

The proceeds will be used to reduce net debt in DDW Offshore, with 50% shared with DDW Offshore lenders in accordance with the profit split agreement.

What is DDW Offshore AS?

DDW Offshore AS is a subsidiary of Akastor ASA involved in the ownership and operation of offshore vessels.

What is Akastor's approach to investment?

Akastor has a flexible mandate for active ownership and long-term value creation, focusing on operational excellence and strategic growth.

How does Akastor ensure financial stability?

Akastor ensures financial stability through robust governance, transparent reporting, and strategic investments that maximize shareholder value.

Where is Akastor ASA based?

Akastor ASA is based in Norway.

Who can I contact for more information about Akastor?

For more information, you can contact Øyvind Paaske, Chief Financial Officer, at +47 917 59 705 or via email at oyvind.paaske@akastor.com.

What sectors does Akastor operate in?

Akastor operates primarily in the oil and gas industry, managing a diverse portfolio of industrial holdings and other investments.

What are Akastor's future plans?

Akastor aims to strengthen its market position through strategic partnerships, global expansion, and the adoption of innovative technologies and sustainable solutions.