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    Havila to sell UK-based rescue recovery ops to Ocean Mainport

    News // October 24, 2006

    Havila Shipping has announced that it has signed a Heads of Agreement with Ocean Mainport Ltd group regarding the sale of the company's UK-based rescue recovery operations (RRV).

    Eight vessels are included in the transaction which will be completed by selling 100 per cent of the shares in Havila Rescue UK Ltd.

    The deal is expected to close before year end.

    The total transaction value is estimated to be approximately NKr 348 million, and gives Havila Shipping a total booked profit before tax of approximately NKr 65 million.

    The vessels included in the sale are: Havila Sky, Havila Tern, Havila Searcher, Havila Sea, Havila Clever, Havila Sun, Havila Star and Havila Tigris.

    Once the deal is concluded, Havila Shipping will be out of the RRV market in the UK sector.

    Havila said the deal is part of the company's strategy to put more focus into the areas such as AHTS, PSVs and subsea construction.


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