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Ocean Installer - Sale of Ownership in Normand Vision CSV

HitecVision is pleased to announce the sale of Ocean Installer’s ownership in the CSV Normand Vision to joint owner Solstad Offshore AS. The net proceeds will remain in Ocean Installer for the purpose of pursuing important growth initiatives in accordance with the game plan. In addition, the sale will release OI from the take out obligations and reduced charter guarantee obligations, further strengthening the balance sheet.