Klaveness Combination Carriers

M&A Activity • Jun 16, 2022

Klaveness Combination Carriers ASA resolves intra-group merger with subsidiary

Klaveness Combination Carriers ASA resolves intra-group merger with subsidiary

Oslo, 16 June 2022: Klaveness Combination Carriers ASA (the "Company") refers to the announcement on 28 April 2022 regarding the initiation of a merger between the Company and its fully owned subsidiary KCC KBA AS ("KCC KBA") and the preparation of a merger plan pursuant to which the Company will acquire all rights and obligations of KCC KBA. The merger is structured as a simplified merger between a parent company and a wholly owned subsidiary, without payment of consideration. The purpose of the merger is to simplify the group structure.

The merger plan has now been approved by the board of directors and the Company will file the approval with the Norwegian Register of Business Enterprises for initiation of a six week creditor notice period that will apply before the merger can be completed.

Contact

Liv Hege Dyrnes, CFO

Telephone: +47 976 60 561

Klaveness Combination Carriers ASA

KCC is the world leader in combination carriers, owning and operating eight CABU and eight CLEANBU combination carriers. KCC’s combination carriers are built for transportation of both wet and dry bulk cargoes, being operated in trades where the vessels efficiently combine dry and wet cargoes with minimum ballast. Through their high utilization and efficiency, the vessels emit up to 40% less CO2 per transported ton compared to standard tanker and dry bulk vessels in current and targeted combination trading patterns.