ShippingWatch

Solstad gets green light for restructuring: "A new beginning"

At an extraordinary general assembly, offshore ship operator Solstad has received approval for a rescue plan. CEO says the resolutions of the agreement, which has taken a year and a half to settle, "mark a new beginning for Solstad."

Photo: Solstad Offshore

Struggling Norwegian offshore ship operator Solstad Offshore has received green light from its shareholders for a rescue plan, says the company in a notice to the stock exchange following its extraordinary general assembly.

The deal concludes a year and a half of negotiations with creditors, and will convert debt totaling NOK 9.7 billion (USD 1.0 billion) into shares. And some individual creditors and investors will inject fresh capital into Solstad.

Read this article for free

Register with your E-mail.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

Related articles

Latest news

Jobs

See all

See all