Scandinavian yard sold to Turkish buyer

The Norwegian company Eqva ASA said it has reached an agreement to sell its Havyard Leirvik yard in Norway to Turkey’s Tersan Shipyard. Eqva ASA is selling 100% of its shares in Havyard Leirvik Holding AS, including the subsidiaries Havyard Leirvik AS and Havyard Leirvik Eiendom AS. The transaction will be settled with NOK 30 million (USD 2.6 million) in net cash. "We are looking forward to becoming part of Tersan Shipyard,” said Mr Tor Leif Mogstad, chief executive officer of Havyard Leirvik. “It is a highly reputable company with a good standing in international shipping and maritime circles and with a clear ambition to further strengthen its position in Northern Europe with Havyard Leirvik as a stepping stone." Eqva ASA said it made the sale under the company's strategic ambition to become an industrial investment company listed on the Oslo Stock Exchange. "The sale of Havyard Leirvik will free up important resources, both human and financial, enabling a concentrated focus on further development of Eqva's current industrial portfolio and looking for new investment opportunities," said Eqva ASA chairman Mr Even Matre Ellingsen.