The acquisition of the vessels, which were built by Ulstein Group in Norway in 2012 and 2013, is expected to be 80% funded by a private equity placement for NAO, with the remainder covered by debt.
NAT and Ulstein Shipping will take up 15-20% and 5% of the placement respectively, with NAT's investment expected to be around $50m.
NAT chairman and ceo Herbjørn Hansson commented, "we have significant expertise in the offshore sector, and we think this new offshore business venture will help maximize total return to NAT shareholders. We wish to extract cost synergies and to leverage the NAT customer relationship in the energy business. Our presence in the US capital market will also help us to achieve our objectives for this new project."
The operation of NAT will be unaffected by the move.
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