Rokke and banks taking over DOF's joint venture fleet

Restructuring Norwegian owner DOF Group is set to lose control of a joint venture set up with a Kjell Inge Rokke company.

The Norwegian tycoon's Akastor and lending banks involved with DOF Deepwater (DDW) are in talks to take over 100% of the shares.

The venture has agreed a standstill on debt repayment with banks until 21 August, but final discussions are taking place over a transfer of DOF's 50% stake, DOF said.