Akastor ASA: Cancellation of sale of "Skandi Peregrino" by DDW Offshore

Rhea-AI Summary

Akastor ASA (OSE: AKAST) announced the cancellation of the previously agreed sale of the vessel "Skandi Peregrino" by its subsidiary DDW Offshore AS. The cancellation occurred because the charterer did not accept to novate the relevant contract on the vessel. The sale agreement was initially announced on March 4, 2025.

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels - Skandi Atlantic, Skandi Emerald, and Skandi Peregrino. These vessels are designed for anchor-handling, towing, and supply services at offshore oil and gas fields. Akastor is a Norway-based oil-services investment company focused on active ownership and long-term value creation.

Positive

• None.

Negative

• Failed sale of Skandi Peregrino vessel due to charterer's rejection of contract novation

News Market Reaction – AKKVF

+9.09%

1 alert

+9.09% News Effect

On the day this news was published, AKKVF gained 9.09%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

OSLO, Norway, May 16, 2025 /PRNewswire/ -- Reference is made to press release dated 4 March 2025 in respect of Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") and the agreement to sell "Skandi Peregrino", which was conditional on charterer's consent. Since the charterer has not accepted to novate the relevant contract on the vessel, the agreement to sell the vessel has today been cancelled.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
oyvind.paaske@akastor.com 

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Adina Gherghel, Office Manager, Akastor ASA, on 16 May 2025 at 19:30 CET.

About DDW Offshore:

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and support clients on a world-wide basis. The vessels are specially designed to perform anchor-handling, towing, and supply services at offshore oil and gas fields.

For further information, please visit homepage: www.ddwoffshore.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.

This information was brought to you by Cision http://news.cision.com

FAQ

Why was the sale of Skandi Peregrino cancelled by Akastor ASA (AKKVF)?

The sale was cancelled because the charterer did not accept to novate the relevant contract on the vessel. The sale agreement was conditional on obtaining the charterer's consent.

How many vessels does DDW Offshore currently own after the cancelled sale?

DDW Offshore continues to own three modern Anchor Handling Tug Supply (AHTS) vessels: Skandi Atlantic, Skandi Emerald, and Skandi Peregrino.

What was the original date of the Skandi Peregrino sale agreement by AKKVF?

The original sale agreement was announced on March 4, 2025.

What type of vessels does DDW Offshore operate?

DDW Offshore operates Anchor Handling Tug Supply (AHTS) vessels designed for anchor-handling, towing, and supply services at offshore oil and gas fields.