Brief: Aker Philadelphia sells its interest in product tanker joint venture to Marathon Petroleum

Philly Shipyard ASA

22/09/2015 06:55

Sept 22 (Reuters) - Aker Philadelphia Shipyard ASA 
 AKPS.OL : 
    * Aker Philadelphia Shipyard Inc entered into definitive 
agreements with a subsidiary of Marathon Petroleum Corporation 
for buy-out of APSI's interest in its joint venture with Crowley 
Maritime Corporation 
    * Says transaction is based on an enterprise value of $150 
million per vessel. 
    * Deliveries of all four vessels are expected to occur from 
Q3 2015 to Q3 2016 
    * Expects to recognize a pre-tax gain of about $10 million 
per vessel from transaction. 
 
     
Source text for Eikon:  ID:nHUG94N0b  
     
Further company coverage:  AKPS.OL  
 
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