Fred. Olsen Ocean divests stake in United Wind Logistics

By David Kershaw2025-03-26T10:00:00+00:00

Fred. Olsen Ocean has agreed to sell its 50 percent stake in United Wind Logistics (UWL) to United Heavy Lift (UHL).

The sale price of the stake is EUR48.5 million (USD52.37 million). Fred. Olsen originally acquired its share of UWL in 2019 for EUR12 million (USD12.98 million). The new deal is expected to close on April 30, 2025. Fred Olsen said the gross proceeds from the divestment, including a repayment of shareholder loans, would be about EUR51.2 million (USD55.37 million).

UWL has a fleet of three deck carriers and offers services within marine transportation.

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