Norwegian tycoon Kjell Inge Rokke is spending $22.5m to take full control of the offshore shipping joint venture AKOFS Offshore.
His offshore company Akastor has agreed a deal to buy another 25% of AKOFS from Japanese trader Mitsui & Co, bringing its stake to 75%.
Trader Mitsui will exit the company, but giant Japanese shipowner Mitsui OSK Lines will retain the other 25%.
