Ocean Yield AS (“Ocean Yield” or the “Company”) announced last year aninvestment in Geogas LNG, which provided an indirect economic interest of 34%inthe French company France LNG Shipping (“FLS”).
Ocean Yield is pleased to announce that it has now agreed to purchase AccessCapital Partners’ share in Geogas LNG. The transaction will increase OceanYield’s indirect economic interest in FLS from 34% to 45%.
FLS owns a portfolio of 12 LNG carriers on long-term charters to tier-oneinvestment grade-rated European energy companies and is 50/50 owned by NYK andGeogas LNG. The fleet consists of 7 vessels on the water and 5 newbuildings,with an average contract duration of 9 years, or 13 years including extensionoptions. The transaction will add approximately USD 250 million to OceanYield’sEBITDA backlog. Closing of the transaction is expected to occur during thesecond or third quarter of 2025, subject to certain customary conditions.
Chief Executive Officer Andreas Røde said in a comment: “We are pleased toincrease our exposure in France LNG Shipping and further grow our presence inthe LNG segment. FLS has proven to be a well-established and solid performingplatform, backed by industry-leading partners in NYK and Geogas Maritime, bothof which retain their shareholding and economic interest in FLS.”
BAHR acted as legal advisor to the Company in connection with the transaction.
This information is subject of the disclosure requirements pursuant to section5-12 of the Norwegian Securities Trading Act.
Company contacts:
Andreas Røde (CEO), Tel +47 98 22 85 62
Eirik Eide (CFO), Tel +47 95 00 89 21
Investor Relations contact:
Karl Fredrik Schjøtt-Pedersen (SVP Finance & Investor Relations), Tel +47 951323 35
Company information:
Ocean Yield AS is a ship owning company with investments in vessels onlong-termcharters. The company has a significant contract backlog that offersvisibilitywith respect to future earnings.
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