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Acquisition of Shares in DOF Subsea AS

Source: www.gulfoilandgas.com 11/18/2019, Location: Europe

DOF ASA has entered into a share purchase agreement with FR Dolphin Lux Holding S.?.r.l., owner of 51,131,358 shares in DOF Subsea AS, and Dolphin Invest 2 AS, owner of 7,538,163 shares in DOF Subsea AS, both entities controlled by US based fund First Reserve, for purchase of the aggregate 58,669,521 shares (the "Shares") held by these two companies.

The purchase price for the Shares, which comprise 35,057% of the total volume of shares of DOF Subsea AS, is NOK 20 mill.

The acquisition is closely associated with the ongoing refinancing of DOF Subsea AS. Post acquisition, DOF ASA will be sole shareholder of DOF Subsea AS.

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