Brief: Eiof - Eidesvik Forms Joint Venture With Reach Subsea To Own And Operate Subsea Imr Vessel "Edda Sun" (To Be Named "Viking Reach")

Eidesvik Offshore ASA

23/02/2023 05:57

Feb 23 (Reuters) - Eidesvik Offshore ASA  EIOF.OL :
    * EIOF - EIDESVIK FORMS JOINT VENTURE WITH REACH SUBSEA TO
OWN AND
OPERATE SUBSEA IMR VESSEL "EDDA SUN" (TO BE NAMED "VIKING
REACH")
    * EIDESVIK WILL OWN 50.1% OF NEW ENTITY
    * JOINT VENTURE WILL BE FINANCED BY EQUITY FROM BOTH PARTIES
AND
BY AROUND MNOK 150 OF BANK FINANCING
    * BANK FINANCING HAS BEEN CREDIT APPROVED AND FINAL
DOCUMENTS ARE
CURRENTLY BEING COMPLETED

Source text for Eikon:  ID:nObiBc0m2a 
Further company coverage:  EIOF.OL 
 ((Reuters.Briefs@thomsonreuters.com;))