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Press release


Execution of put option in minority shares of Coey- and Cooper Viking

Viking Supply Ships manages two partly owned PSV-vessels. The vessels are owned in partnerships with funds managed by Borealis Maritime. Viking Supply Ships owns 30% of the vessels, which are consolidated in the financial statements according to the equity- method.

 
Viking Supply Ships has terminated the management agreement on the vessels and executed a put option in the shares in the company owning the vessels. The put option is regulated in the shareholders agreement between Viking Supply Ships and the company managed by Borealis Maritime, and the shares will be sold based on the market price of the two PSV’s to be decided by two designated shipbrokers. VSS expects to book a gain of approximately MUSD 8.5 and a cash release of approximately MUSD 17.5. The transaction is expected to close in the second quarter of 2024 at the latest.
 

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