A joint venture of Reach Subsea and Eidesvik Offshore has delivered the 2009-built, 85-meter-long inspection, maintenance and repair (IMR) vessel Viking Reach to its new owners.
Eidesvik Reach, in which Eidesvik holds a 50.1% ownership interest and Reach Subsea 49.9%, entered into a memorandum of agreement (MoA) in August with an undisclosed buyer for the sale of the vessel it acquired at the beginning of 2023 for a purchase price of about €25.5 million.
It was reported today, October 26, that Viking Reach, previously known as Edda Sun, had been delivered to the new owners and that the transaction had been completed in accordance with previously communicated terms.
The work-class remotely operated vehicle (WROV) onboard the vessel was also part of the transaction.
"The sale is officially closed, and Viking Reach is setting sail for the Mediterranean and a new chapter. Thank you for the journey with Eidesvik, and fair winds ahead!" Eidesvik Offshore said on social media.
To remind, in August Reach Subsea revealed it was expecting to recognize an accounting gain of approximately NOK 30 million (around €2.9 million) related to the WROV sale upon completion of the transaction and approximately NOK 40 million related to its ownership interest in Eidesvik Reach. In a separate announcement, Eidesvik Offshore reported it was expecting a gain from the transaction of approximately NOK 80 million.