Norwegian shipping company 2020 Bulkers has entered into a binding agreement to acquire all shares in AHTS. The company owns seven AHTS vessels and has agreements to acquire a further three. The total agreed fleet value is USD 264 million.
The purchase price for the shares is preliminarily estimated at approximately USD 113 million and is to be paid through approximately 377 million new shares in 2020 Bulkers at a subscription price of USD 0.299 per share. Completion is planned around 1 October.
In addition, AHTS has received acceptances for the purchase of shares in additional project companies with five vessels. The purchase price for the shares covered is estimated at approximately USD 90 million and is expected to be paid with approximately 300 million new shares.
The transaction is, among other things, conditional on 2020 Bulkers carrying out a directed share issue of approximately USD 175 million no later than 28 September.
