Norwegian shipowner Østensjø, through its wholly owned subsidiary Østensjø Wind, has agreed to sell 21.3 million shares in offshore support vessel (OSV) operator Edda Wind to relinquish any shares or rights to shares in the latter company.
Østensjø Rederi has managed Edda Wind's fleet of vessels since the ordering of the first two purpose-built service operation vessels (SOVs) in 2015.
Edda Wind will take over the full management of its fleet from January 1, 2025.
Geveran Trading, a company affiliated with Frontline chair and president John Fredriksen, has acquired nearly 10.3 million of the 21.3 million shares in Edda Wind sold by Østensjø. The acquisition increases Geveran's stake in Edda Wind to 34.85 million shares, making it the OSV operator's largest shareholder.
The shares were sold at a price of NOK24.50 (US$2.23) per share.