Fred Olsen Ocean Ltd has agreed to sell its 50% stake in United Wind Logistics (UWL) to United Heavy Lift.
The amount agreed is €48.5m, according to a stock exchange announcement by Fred Olsen & Co vice-president of finance Øyvind Engesrønning.
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UWL has a fleet of three deck carriers including the MV BoldWind vessel (pictured) and offers services within marine transportation.
Norway-based Fred Olsen Ocean originally acquired the ownership in UWL in 2019 for €12m.
Including a repayment of shareholder loans, the gross proceeds from the divestment will be approximately €51.2m, with closing expected on 30 April 2025.