Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/akastor-mitsui-and-mol-announce-closing-of-joint-v.shtmlAkastor, Mitsui and MOL Announce Closing of Joint Venture Transaction
Akastor ASA has announced that the agreement with MITSUI & CO., LTD and Mitsui O.S.K. Lines, Ltd. (MOL), to create a joint venture with 50/50 ownership between AKOFS Offshore AS and Mitsui/MOL has now been approved an...
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Akastor ASA, an oil service investment company, has announced that the agreement with MITSUI & CO., LTD and Mitsui O.S.K. Lines, Ltd. (MOL), to create a joint venture with 50/50 ownership between AKOFS Offshore AS and Mitsui/MOL has now been approved and concluded according to the terms and conditions described in the press release of September 20, 2016.
As a consequence, AKOFS will realise a cash gain of USD 66 million, and Akastor will realise an accounting gain of approximately USD 20 million. The accounting gain will be booked in Q4 2016.
