Solstad Offshore has bought back a construction support vessel (CSV) that will stay in its stead following the company’s recent refinancing deal and ownership shuffle.
The Oslo-listed company on Tuesday repurchased the 5,260-dwt Normand Tonjer (built 2010) from Atle Bergshaven’s Norwegian Mpsv AS for $4m.
“We are very pleased to acquire CSV Normand Tonjer at what we believe are favourable terms for a vessel of such capabilities,” chief executive Lars Peder Solstad said in a statement.
Solstad Offshore had a 55% stake in the Normand Tonjer, with other investors taking up the remainder of ownership.
It was sold to Norwegian Mpsv for $10m in 2021, then leased back on a three-year bareboat charter with two one-year extension options and a repurchase option.
Norwegian Mpsv was established in 2021 and lists Bergshaven as its chairman, according to corporate records accessed through Proff.no. Shipping database Equasis shows the Normand Tonjer as its only ship.
The vessel is one of a few that will stay under Solstad Offshore ownership should a multibillion-kroner refinancing deal with Aker Capital, DNB, Eksportfinans Norge and AMSC be completed.
Most of Solstad Offshore’s 48-ship fleet will become part of Solstad Maritime, in which Aker Capital will own 57% of shares and Solstad Offshore 27%.
But three CSVs and two anchor-handling tug supply units will stay with what the company called Solstad RemainCo in Tuesday’s announcement.
That agreement, though, is threatened by Christen Sveaas’ Kistefos.
Sveaas has built his stake in Solstad Offshore to just over 18% of all shares after requesting a meeting be held to open litigation against companies and executives involved in the refinancing and the creation of a temporary board.
Solstad Offshore said on Tuesday that the two sides had postponed the meeting “in understanding”.
