Oceanteam sells vessel stake to J. Ray McDermott Norway

Offshore staff

BERGEN, Norway – Oceanteam Shipping ASA has completed the transfer of its 50% ownership stake in its jointly owned pipelay vessel CSV North Ocean 102 to J. Ray McDermott Norway.

Proceeds from the sale will go toward a $35 million amortization on Oceanteam's bond loan debt due in April 2015 and for other general corporate purposes.

The transaction was fully executed on Dec. 18, and sale purchase conditions were not disclosed.

12/19/2014

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