Oslo-listed Ocean Yield has taken full control of three suezmax tankers formerly owned with major shareholder Kjell Inge Rokke's Aker Capital.
The company said it is buying its backer's 50% stake in the 157,000-dwt Nordic Cygnus, Nordic Aquarius and Nordic Tellus (all built 2018), which are on long-term charters to US-listed Nordic American Tankers.
Ocean Yield will own 100% in the trio after the deal completes in early July.
VesselsValue has a combined market value on the ships of about $153m.
Ocean Yield said the total book value is $107m and the company is paying only $5.9m for Aker's 50% share of the equity.
Nordic lender SEB provided a fairness opinion for Ocean Yield, the company said.
Ocean Yield also owns two 157,000-dwt suezmax newbuildings acquired from Nordic American in an $88m sale-and-leaseback deal last year.
They are scheduled for delivery from Samsung Heavy Industries in South Korea during the first half of 2022.
Okeanis deal profit
In addition to the Aker transaction, Ocean Yield also revealed it is benefiting from a sales deal announced on Monday between Frontline and Okeanis Eco Tankers.
Frontline is paying $180m for the Okeanis-operated, 319,000-dwt VLCC duo Nissos Santorini and Nissos Antiparos (both built 2019).
The ships are owned by Ocean Yield, which will bank proceeds of $138m from the sale.
In the charter contracts, Okeanis had the option to sell the leased ships to third parties.
Ocean Yield will also book a small profit from the sales.
Net cash proceeds after repayment of outstanding debt will be about $30m.
"The intention is to reinvest the net cash proceeds into new vessels with long-term charters," Ocean Yield said.
