Vessels

Ocean Yield to buy subsea construction vessel

Oct. 11, 2012

AMC Connector AS, the joint venture between Aker Solutions (Oslo Børs:AKSO) and Emas Offshore, has agreed to sell the subsea construction and cable-lay vessel Lewek Connector to Ocean Yield AS for $315 million.

Offshore staff

OSLO, Norway --AMC Connector AS, the joint venture between Aker Solutions (Oslo Børs:AKSO) and Emas Offshore, has agreed to sell the subsea construction and cable-lay vessel Lewek Connector to Ocean Yield AS for $315 million.

In October 2010, Aker Solutions decided to sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings (SGX: 5DN), which now operates as EMAS AMC.

As part of this transaction, Ezra agreed to acquire 50% of the shares in AMC Connector, the owner of theLewek Connector.

Aker Solutions owns approximately 7.4% of Ezra, which is listed on the Singapore stock exchange. Ocean Yield AS is a wholly owned subsidiary of Aker ASA, which owns 28% of Aker Solutions through Aker Kvaerner Holding.

10/11/2012