McDermott to exercise its option to purchase PLV North Ocean 105

Oceanteam ASA ("Oceanteam" or "Company") announces that joint-venture partner McDermott will exercise its option to purchase Oceanteam’s 25% ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017. Under McDermott’s main credit facility agreement, it has announced that it is required to do so.
As part of the understanding with its bondholders and that was announced on January 11th 2017, Oceanteam will use the proceeds for repayments of vendors and repurchase of outstanding bonds. It will realise significant capital gain on the sale of its ownership interest in this vessel.
“We move perfectly according to plan enabling to align our costs of capital employed and our amortization profile amongst others with the current market situation”, says CEO Haico Halbesma. “As said in previous updates, our financial restructuring will allow us to further develop our existing market activities, to take advantage of new business opportunities, and thus to allow us to build long-term value for the benefit of all Oceanteam's stakeholders and employees".
“We move perfectly according to plan enabling to align our costs of capital employed and our amortization profile amongst others with the current market situation”, says CEO Haico Halbesma. “As said in previous updates, our financial restructuring will allow us to further develop our existing market activities, to take advantage of new business opportunities, and thus to allow us to build long-term value for the benefit of all Oceanteam's stakeholders and employees".
Latest news
- Aug 30 2023 | Oceanteam ASA reports half year 2023 results#Investors
- May 23 2023 | Oceanteam ASA - AGM Minutes 23 May 2023#investors
- May 02 2023 | Oceanteam ASA - Summons to Annual General Meeting 23 May 2023#investors
- Apr 05 2023 | Oceanteam ASA reports full year 2022 results#investors
- Mar 01 2023 | Leadership Change in Oceanteam ASA#investor