Akastor ASA Completes Transfer Deal with Mitsui for AKOFS Offshore Ownership

Akastor ASA Completes Mitsui Transfer and Ownership Agreement with MOL

On January 14, 2025, Akastor ASA, a Norway-based oil-services investment company, announced the successful conclusion of its acquisition of Mitsui & Co., Ltd.'s interests in AKOFS Offshore AS. This transfer solidified Akastor's control over 75% of the shares in AKOFS Offshore, marking a significant step in the company’s operational strategy in the oil and gas sector.

The announcement follows a previous press release dated November 6, 2024, which outlined the terms of the agreement. With this transfer, Akastor is poised to enhance its operational capabilities and maintain a pivotal role in the subsea well installation and intervention services market. The agreement also sets the stage for future collaboration between Akastor and Mitsui, which continues to retain a minority stake in the offshore entity.

In conjunction with the complete transfer, Akastor and Mitsui O.S.K. Lines, Ltd. (MOL) have established a new shareholders agreement that became effective immediately. A noteworthy aspect of the new agreement is a separate transaction where Akastor will transfer 8.3% of its shares in AKOFS Offshore to MOL. Upon completion of this transaction, the ownership distribution will adjust to two-thirds for Akastor and one-third for MOL.

The transaction is being executed on an