Akastor, through its fully-owned subsidiary DDW Offshore, has entered into a binding agreement to sell Skandi Peregrino anchor handling tug supply (AHTS) vessel.
Skandi Peregrino AHTS has been sold for the purchase price of $25 million to an unnamed buyer.
The agreement is entered into on Saleform 2012 terms, suitably amended, and completion is conditional on charterer's consent.
The agreement is expected to be completed in the second quarter of 2025 whereby about $10 million of the purchase price will be used to repay a proportional portion of DDW Offshore's debt.
Remaining debt with DDW Offshore will be about $19 million.
Upon completion, Akastor intends to distribute a substantial portion of the net proceeds of about $15 million as cash dividend to its shareholders, the company said.
The Skandi Peregrino is a high-powered AHTS of STX AH08 design, suitable for operations across a wide range of water depths and environmental conditions.