Reference is made to the announcements made on August 22, 2023 regarding the signing by AMSC ASA (“AMSC”) and Project Merchant Acquisition LLC (the “Buyer”), a newly-formed company owned and controlled by a fund managed by Maritime Partners, LLC, of a share purchase agreement for the Buyer’s purchase of American Tanker Holding Company, Inc., a wholly-owned subsidiary of AMSC (the “Transaction”).

AMSC is pleased to announce that the Transaction was successfully completed today. The Transaction comprised all of AMSC’s Jones Act business including the 10 MR tankers, respective bareboat contracts, secured bank debt, unsecured bond and US corporate structure.

As previously indicated, the board of directors of AMSC intends to resolve that USD 170 million of the cash proceeds from the Transaction are distributed to shareholders as an additional dividend as soon as practically possible.
Source: AMSC