Bumi Armada announces the sale of Armada Claire FPSO vessel
The FPSO vessel was sold at a price of $20 million
The Board of Bumi Armada Berhad (“Bumi Armada”) announced that its wholly owned subsidiary, Armada Balnaves Pte Ltd (“ABPL”), has completed the sale of the Armada Claire FPSO (“Armada Claire”) to an unknown buyer.
The Armada Claire sale was on an “as is where is” basis, at a sale price of US$20 million. The sale proceeds were received by ABPL on 19 April 2023.
The Bumi Armada Group will recognise a gain on sale of the Armada Claire of approximately US$12 million in its second quarter financial results. Proceeds from the sale, net of transactions fees, will be applied towards a reduction of Bumi Armada Group’s corporate debt.
