Klaveness Marine has exited the vehicle shipping segment through the sale of its stake in Norwegian Car Carriers (NOCC).
The private company, controlled by Tom Erik Klaveness and his family, has sold 50% of NOCC to US banking giant JP Morgan for a reported price in excess of NOK1bn ($96.3m).
“Our investment goes back more than 10 years and we believe exit now is a good timing,” Klaveness Marine chief executive Jon Christian Syvertsen told Splash.
NOCC was established in 2010 and currently has three ships in its fleet, two of which are fully owned.
Klaveness Marine, which among other things also has investments in three LNG ships with Knutsen OAS Shipping, took NOCC private in 2014 in a 50/50 joint venture with JP Morgan, which has now taken full ownership of the Oslo-based company.
