Join our crew and become one of the 110,472 members that receive our newsletter.

The offshore supply ship Edda Breeze at the Port of Emden on March 10, 2024. Photo: Shutterstock/MartinLueke

Stock Photo: Edda Wind's Edda Breeze at the Port of Emden on March 10, 2024. Photo: Shutterstock/MartinLueke

John Fredriksen Becomes the Largest Shareholder of Edda Wind

Mike Schuler
Total Views: 1393
May 2, 2024

John Fredriksen, through his company Geveran Trading Co. Limited, has become the largest shareholder of Norwegian offshore wind service company, Edda Wind.

In connection with the sale of 21,300,000 shares in Edda Wind by Østensjø Wind AS announced Thursday, Fredriksen-controlled Geveran Trading Co. Limited agreed to acquire 10,283,869 shares, increasing its total holdings to 34,850,000 shares, which represents 31.03% of Edda Wind’s issued shares and votes.

The previous largest shareholder, Wilhelmsen New Energy AS, a subsidiary of Wilh. Wilhelmsen Holding AS, purchased 6,340,000 shares, whereas EPS Ventures Ltd secured 4,676,131 shares. Wilhelmsen now holds 31.02% of Edda Wind’s shares and votes, while EPS owns 20.09%.

The shares were bought at a price of NOK 24.50 per share, with a total transaction value of NOK 521,850,000 (~USD $47.5 million).

Geveran Trading is indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family.

According to Edda Wind, the transaction reflects the shareholders’ strong belief in the company’s future and will help simplify the company’s ownership structure.

Edda Wind, headquartered in Haugesund, Norway, is a leading pure-play offshore wind service company that specializes in the development, construction, ownership, and operation of Service Operation Vessels (SOV) and Commissioning Service Operation Vessels (CSOV) for offshore wind farms worldwide. The company currently owns and operates six vessels and has eight more under construction.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 110,472 members delivered daily straight to your inbox.