Akastor — M&A Activity 2016

Nov 24, 2016

Akastor ASA: Akastor, Mitsui and MOL announces closing of joint venture transaction

Akastor ASA: Akastor, Mitsui and MOL announces closing of joint venture transaction

Akastor ASA (OSE: AKA), an oil service investment company, announced today

that the Agreement with MITSUI & CO., LTD ("Mitsui"), and Mitsui O.S.K. Lines,

Ltd. ("MOL"), to create a joint venture with 50/50 ownership between AKOFS

Offshore AS ("AKOFS") and Mitsui/MOL has now been approved and concluded

according to the terms and conditions described in the press release of

September 20, 2016.

As a consequence, AKOFS will realize a cash gain of USD 66 million, and Akastor

will realize an accounting gain of approximately USD 20 million. The accounting

gain will be booked in Q4 2016.

ENDS

For further information, please contact:

Tore D. Langballe

Head of Communications & Investor Relations

Mob: +47 907 77 841

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.