Brief: AMSC To Sell Jones Act Biz

Amsc ASA

22/08/2023 07:51

Aug 22 (Reuters) - Amsc ASA  AMSCM.OL :
    * FUNDS MANAGED BY MARITIME PARTNERS, LLC AGREES TO ACQUIRE U.S. JONES ACT BUSINESS OF AMSC
ASA
    * PARTIES SIGNED SHARE PURCHASE AGREEMENT FOR PM ACQUISITION'S PURCHASE OF AMERICAN TANKER
HOLDING
COMPANY, INC. ( "ATHC"), WHOLLY-OWNED SUBSIDIARY OF AMSC
    * PARTIES EXPECT TRANSACTION TO CLOSE ON OR BEFORE OCTOBER 31, 2023
    * WILL RECEIVE GROSS CASH PROCEEDS FROM TRANSACTION, SUBJECT TO CERTAIN ADJUSTMENTS, OF IN
AN
AGGREGATE AMOUNT OF US$ 249.3 MILLION
    * WILL RECEIVE PROCEEDS DIVIDED BETWEEN CONSIDERATION FOR SHARES IN ATHC AND REPAYMENT OF A
SHAREHOLDER LOAN, REFLECTING ENTERPRISE VALUE OF ATHC OF US$ 746.7 MILLION
    * BOARD OF DIRECTORS UNANIMOUSLY APPROVED AMSC'S ENTRY INTO SPA

Source text for Eikon:  ID:nObilVJQPa 
Further company coverage:  AMSCM.OL 

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