Norway’s Fred Olsen Ocean has sold its 50% stake in German deck carrier operator United Wind Logistics (UWL) to United Group sister company United Heavy Lift for €48.5m ($52.6m).
The Oslo-based Bonheur subsidiary said the transaction should close by end-April and that the gross proceeds from the divestment, including a repayment of shareholder loans, would be about €51.2m.
Fred Olsen Ocean bought into UWL in 2019 for €12m to strengthen its footprint in the offshore wind service sector.
Established in 2017, the Hamburg-headquartered company operates three ships specialized in the transport of offshore wind components, while United Heavy Lift counts a fleet of more than 20 modern multipurpose heavylift vessels.
