Goldman Sachs Asset Management, L.P. completed the acquisition of a 72.11363% stake in Frøy ASA (OB:FROY) from NTS ASA.
In a related transaction, Goldman Sachs Asset Management intends to launch a tender offer for the remaining shares. Transaction is subject to receipt of applicable approvals from competition authorities in Norway and Ukraine, and the Norwegian Ministry of Trade, Industry and Fisheries having granted an exemption with respect to the nationality requirements for NOR registration in the Norwegian Maritime Code applicable to the vessels owned by the Company, and other regulatory approvals. Transaction is expected to be completed in the third quarter of 2023.
DNB Markets, a part of DNB Bank ASA, is acting as financial advisor and Advokatfirmaet BAHR AS is acting as legal advisor to NTS and the Frøy ASA. Goldman Sachs International,Ingar Nissen-Meyer, Sofie Sørheim Mørland, Magnus Helno, Caroline Andersen, Erik Årstad Gilje of Nordea Corporate Finance, part of Nordea Bank Abp, filial i Norge and RBC Capital Markets are acting as financial advisors and Advokatfirmaet Thommessen AS and Linklaters LLP are acting as legal advisors to the Goldman Sachs Asset Management. Sullivan & Cromwell LLP is acting as competition and FDI law advisor, to the Offeror.
Goldman Sachs Asset Management, L.P. completed the acquisition of a 72.11363% stake in Frøy ASA (OB:FROY) from NTS ASA on August 14, 2023.