Saevik to acquire Havila vessels?

News - June 20, 2003

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Seabrokers says Per Saevik, through Havila SA, has agreed to buy, subject to finance and conclusion within June 2003, the 11 standby vessels currently owned by Havila Supply for a price of NOK 550 million.

Seabrokers said the move "will probably pave the way for Bourbon (Surf) to make a full bid for the remaining supply vessel operations of the group," in which they already have a 39.6 per cent share.

Other broking sources suggest that the price offered is around NOK 550m, plus transfer of all commitments related to newbuilding contract of standby vessel under construction at Havyard Leirvik.The Havila Board of Directors has discussed the matter, and is reported to be in favour of the deal.

The offer is valid until the end of June, and is subject to financing.

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