Atlantic Navigation Holdings to Sell Fleet for $183 Million, Plans Special Dividend

MT Newswires

Sep 10, 2024

Atlantic Navigation Holdings Singapore (SGX:5UL) will sell its fleet of 20 offshore support vessels to MAG Offshore Investment LLC's units for $183 million, according to a Monday filing on the Singapore Exchange.

The sale requires shareholder approval and will lead to a capital reduction and special interim dividend.

Atlantic Maritime Group FZE, a unit of Atlantic Navigation Holdings, will continue to manage the vessels and uphold existing charter agreements post-sale.

The vessels, with a net book value of $162.43 million as of June 30, are expected to generate a gain of approximately $20.57 million from the sale. The fleet's average market value is $182.95 million.

After the sale, the group will retain the jack-up barge "Delta 22" and shift its focus to asset-light ship management and marine logistics services.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2466175385"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2466175385\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2466175385?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-09-10 11:15","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2466175385","market":"sg","top_or_hot":-1,"title":"Atlantic Navigation Holdings to Sell Fleet for $183 Million, Plans Special Dividend","media":"MT Newswires","content":"<html><body><p> Atlantic Navigation Holdings Singapore (SGX:5UL) will sell its fleet of 20 offshore support vessels to MAG Offshore Investment LLC's units for $183 million, according to a Monday filing on the Singapore Exchange.</p><p>The sale requires shareholder approval and will lead to a capital reduction and special interim dividend.</p><p>Atlantic Maritime Group FZE, a unit of Atlantic Navigation Holdings, will continue to manage the vessels and uphold existing charter agreements post-sale.</p><p>The vessels, with a net book value of $162.43 million as of June 30, are expected to generate a gain of approximately $20.57 million from the sale. The fleet's average market value is $182.95 million.</p><p>After the sale, the group will retain the jack-up barge \"Delta 22\" and shift its focus to asset-light ship management and marine logistics services.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Atlantic Navigation Holdings to Sell Fleet for $183 Million, Plans Special Dividend</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAtlantic Navigation Holdings to Sell Fleet for $183 Million, Plans Special Dividend\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060499803\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires </p>\n<p class=\"h-time\">2024-09-10 11:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Atlantic Navigation Holdings Singapore (SGX:5UL) will sell its fleet of 20 offshore support vessels to MAG Offshore Investment LLC's units for $183 million, according to a Monday filing on the Singapore Exchange.</p><p>The sale requires shareholder approval and will lead to a capital reduction and special interim dividend.</p><p>Atlantic Maritime Group FZE, a unit of Atlantic Navigation Holdings, will continue to manage the vessels and uphold existing charter agreements post-sale.</p><p>The vessels, with a net book value of $162.43 million as of June 30, are expected to generate a gain of approximately $20.57 million from the sale. The fleet's average market value is $182.95 million.</p><p>After the sale, the group will retain the jack-up barge \"Delta 22\" and shift its focus to asset-light ship management and marine logistics services.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"5PF.SI","symbol_name":"日升海事集团","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2466175385","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466175385","pubTimestamp":1725938126,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1060499803","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Atlantic Navigation Holdings Singapore  will sell its fleet of 20 offshore support vessels to MAG Offshore Investment LLC's units for $183 million, according to a Monday filing on the Singapore Exchange.The sale requires shareholder approval and will lead to a capital reduction and special interim dividend.Atlantic Maritime Group FZE, a unit of Atlantic Navigation Holdings, will continue to manage the vessels and uphold existing charter agreements post-sale.The vessels, with a net book value of $162.43 million as of June 30, are expected to generate a gain of approximately $20.57 million from the sale. The fleet's average market value is $182.95 million.After the sale, the group will retain the jack-up barge \"Delta 22\" and shift its focus to asset-light ship management and marine logistics services.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"5PF.SI":"日升海事集团","5UL.SI":"ATLANTIC NAVIGATION HLDG(S)LTD","BK6088":"石油天然气设备与服务","BK6522":"化石燃料股"},"translate_title":"大西洋导航控股公司将以1.83亿美元出售船队，计划派发特别股息","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"5PF.SI":1,"5UL.SI":0.9},"content_text":"Atlantic Navigation Holdings Singapore (SGX:5UL) will sell its fleet of 20 offshore support vessels to MAG Offshore Investment LLC's units for $183 million, according to a Monday filing on the Singapore Exchange.The sale requires shareholder approval and will lead to a capital reduction and special interim dividend.Atlantic Maritime Group FZE, a unit of Atlantic Navigation Holdings, will continue to manage the vessels and uphold existing charter agreements post-sale.The vessels, with a net book value of $162.43 million as of June 30, are expected to generate a gain of approximately $20.57 million from the sale. The fleet's average market value is $182.95 million.After the sale, the group will retain the jack-up barge \"Delta 22\" and shift its focus to asset-light ship management and marine logistics services.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}