EIOF - Eidesvik Offshore and Reach Subsea complete the acquisition of Viking Reach

16 Mar 2023 13:06 CET

The Joint Venture between Eidesvik Offshore ASA (“Eidesvik”) and Reach Subsea
ASA (“Reach”) has today completed the acquisition of Subsea IMR vessel Viking
Reach. The purchase price for the vessel was USD 29 million.

Going forward the vessel will be managed and operated by Eidesvik. As announced
in the stock exchange release of February 23, 2023, the vessel will commence on
a 6-year time charter contract with Reach at the start of Q2 2023.

Gitte Gard Talmo, CEO & President of Eidesvik, comments:

“We are very pleased to welcome Viking Reach to our fleet and look forward to a
good collaboration with Reach”.

Bømlo, March 16, 2023

Contacts:
CEO Gitte Gard Talmo (+47 915 23 245)
CFO Helga Cotgrove (+47 907 35 246)


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

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