Ocean Yield (No_rec, TP: NOK) - Discontinuing coverage
We have discontinued our coverage of Ocean Yield following KKR’s successful acquisition of 94% of Ocean Yield’s outstanding shares in the voluntary offer. KKR intends to complete a compulsory acquisition of the remaining shares in Ocean Yield. We withdrew our recommendation and target price on the stock on 13 September following the offer; our last published estimates should no longer be relied upon.Ocean Yield provides investments in vessels within oil-service and industrial shipping industry. Co. is a ship-owning company with investments in vessels on long-term charters.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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