DDW Offshore AS (“DDW Offshore”) has today completed the sale of “Skandi Atlantic” for a purchase price of USD 22.75 million. The agreement was entered into on Saleform 2012 terms, suitably amended, and the transfer took place today concurrently with charterer’s consent, which was a condition precedent for completion under the sales agreement.
USD 8 million of the purchase price will be used to repay a proportional portion of DDW Offshore’s debt. Remaining debt with DDW Offshore will be USD 16 million.