The Danish shipowner has offloaded the 16% stake to its partner Norwegian private equity group HitecVision.
The sale leaves Lauritzen with a 34% holding in the Singapore-based venture which was set up in the summer of last year.
“The sale of 16% of our shares in Axis Offshore to HitecVision reduces our stake from 50% to 34%, which gives us a positive cash flow of $23m,” said Lauritzen chief executive Jan Kastrup-Nielsen.
“However,
