V.Group Ltd. acquired Belships Management (Singapore) Pte., Ltd. on June 30, 2023. An owned office lease in Singapore is also in the process of being sold by Belships, and the proceeds will be received by Belships ASA. Net cash proceeds for the transaction will be about $12.5 million and also includes deferred payment for the office.

V.Group Ltd. completed the acquisition of Belships Management (Singapore) Pte., Ltd. on June 30, 2023.