Østensjø Wind, a wholly owned subsidiary of Norwegian shipowner Østensjø, is to sell all its shares in offshore wind vessel owner Edda Wind
In a 2 May 2024 announcement, Østensjø said it had agreed to sell 21,300,000 shares in Edda Wind at a price of Nkr 24.50 (US$2.21) per share. Following the transaction, Østensjø will not hold any shares or rights to shares in Edda Wind.
Edda Wind was founded by Østensjø and has become a market leader in the market for service operation vessels (SOVs) and commissioning service operation vessels (CSOVs). In doing so, it has raised capital from other investors, reducing Østensjø’s ownership to 19%, prior to the divestment.
Østensjø chief executive Håvard Framnes said, “Edda Wind has been a major part of our business since 2015 and is an important part of our history and identity. It is with mixed feelings that we have decided to sell our shares.”
Østensjø Rederi has managed Edda Wind’s fleet of vessels since the first two purpose-built SOVs were ordered by the company in 2015. Following the deal, Edda Wind will take over management of its growing fleet from 1 January 2025.
“As Edda Wind continues to grow and expand it is not only a strategic decision but also a natural next step for Østensjø to divest its ownership stake in the company,” said Mr Framnes.
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