Belships ASA: Change in ownership of Lighthouse Navigation

    Belships ASA: Change in ownership of Lighthouse Navigation

Belships has entered into an agreement to divest its stake of 50 per cent in Lighthouse Navigation Pte Ltd against a cash consideration which will be paid to Belships over the next 15 months. As part of the transaction, Belships has acquired 33 per cent of the shares in Lighthouse Navigation Management AS, increasing Belships’ ownership to 67 per cent. Closing of the transaction has been completed.

“Ever since incorporation Lighthouse Navigation has been a success story, and this ownership change is to focus and simplify Belships’ involvement within dry bulk operating businesses. This is a transaction conducted in good spirit, and the commercial management of the Belships fleet will continue to be handled in the same manner as today, in co-operation between the offices in Bangkok and Oslo”, said Lars Christian Skarsgård, CEO of Belships ASA.

Lighthouse Navigation Pte Ltd, incorporated in 2009, operates from offices across Asia and Australia. Lighthouse Navigation Management AS is incorporated in Norway and conducts business from its office in Oslo. 

For further information, please contact: Lars Christian Skarsgård, CEO, phone [phone] or e-mail [e-mail]

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act