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    DOF sells vessel to GEO

    Vessel & ROV News // February 7, 2007

    The Board of DOF ASA in Norway has entered into an agreement with the Board of GEO ASA to sell a diving support vessel under construction from DOF to GEO.
    The Board of DOF wishes to gather all of the the group's subsea activities within GEO.

    The ship is to be delivered from the shipyard this summer and to commence an eight-year contract with Technip.

    The value of the vessel and its contract has been assessed by Pareto and Enskilda at NK 170 million.

    It has been agreed that DOF will receive approximately 3.1 million shares in GEO as payment.


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