Norway: Golden Ocean Group to acquire capsize vessels through Hemen Holding17.10.2017 Norway: Golden Ocean Group to acquire capsize vessels through Hemen Holding
Hegnar Online, 17 Oct 2017, online:-
Bermuda-based dry bulk shipping company Golden Ocean Group has signed an agreement with companies connected to Cyprus-based investment holding company Hemen Holding, both companies belonging to the sphere of Norwegian businessman John Fredriksen, for acquiring two modern capsize vessels for USD 43mn (EUR 35.99mn) per vessel. Golden Ocean Group will enter into a non-amortising seller credit loan with a company connected to Hemen Holding for the acquisition. The remaining part of the acquisition will be settled by USD 9mn in cash and USD 34mn in new Golden Ocean Group shares. Birgitte Ringstad Vartdal, CEO of Golden Ocean Group, said that the new vessels are expected to generate free cash flow immediately upon delivery. The vessels are expected to be delivered within four months after the completion of the acquisition.
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