Nordic Business Report-October 19, 2006-Havila Shipping ASA exits UK rescue recovery vessels market
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The Norwegian offshore vessels operator Havila Shipping ASA said on Thursday (19 October) that it has signed a heads of agreement to sell its United Kingdom based rescue recovery business Havila Rescue UK Ltd to Ocean Mainport Ltd.
The proposed sales price of NOK348m will result in a pre-tax profit of NOK65m and will have a cash effect of NOK95m for Havila Shipping.
The transaction, which signifies Havila Shipping's exit from the UK rescue recovery vessel market, includes the vessels Havila Sky, Havila Tern, Havila Searcher, Havila Sea, Havila Clever, Havila Sun, Havila Star and Havila Tigris.
Havila Shipping said that the deal is part of its strategy to increase focus on anchor-handling tug supply, platform supply and sub-sea construction.
Havila Shipping provides maritime support functions for the offshore oil and gas industry, and has offices in Norway and Scotland. The company is listed on the Oslo Stock Exchange under the ticker HAVI.
One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).
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