CONTRACT FORMATION
(Thomson Reuters ONE) -
Farstad Shipping ASA has reached an agreement with Petroserv S.A. in Brazil, on
certain conditions, to buy Petroserv's 50% share in BOS Navegação S.A. Farstad
Shipping will after the purchase have 100% ownership of BOS. The net purchase
price for the 50% share is USD 56.5 million. The acquisition is expected to be
consolidated in Farstad Shipping's accounts as from 1 July 2011.
BOS was established in June 1999 as a joint venture between Farstad Shipping and
Petroserv. Today the company owns 3 AHTS on contracts with Petrobras. In
addition BOS operates 10 Farstad vessels in Brazil. BOS' offices in Rio de
Janeiro and Macaé employ 35 people onshore and 325 people offshore.
To Farstad Shipping this agreement represents a strengthening of our position in
Brazil, a market of considerable growth.
Contacts:
CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng - tel. +47 911 07 001
Farstad Shipping's fleet currently consists of 57 vessels (32 AHTS, 23 PSV and
2 SUBSEA) and 6 PSV and 2 AHTS under construction. The company's operations are
run from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de
Janeiro by a total of 1900 employees onshore and offshore. The company's
strategy is to be a major international supplier of large, modern offshore
service vessels to the oil industry. The company maintains a long-term charter
profile for the fleet.
www.farstad.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Farstad Shipping ASA via Thomson Reuters ONE
[HUG#1531453]
Unternehmensinformation / Kurzprofil:
Datum: 18.07.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 56463
Anzahl Zeichen: 2327
contact information:
Town:
Ã…lesund
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 163 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"CONTRACT FORMATION"
steht unter der journalistisch-redaktionellen Verantwortung von
Farstad Shipping ASA (Nachricht senden)
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