Sembcorp Marine acquires Sembmarine North Sea

Offshore staff

SINGAPORE Sembcorp Marine Ltd. subsidiary Sembcorp Marine Offshore Platforms Pte. Ltd. has entered into a sale and purchase agreement with its existing minority shareholders to acquire the remaining 30% equity stake in Sembmarine North Sea Ltd. (SNS) for £137,500 ($167,851).

Following the acquisition, SNS becomes an indirect wholly-owned subsidiary of the Sembcorp Marine Ltd. SNS is in the business of investment holding. The acquisition will give the Sembcorp Marine Ltd. full control of SNS and its wholly-owned subsidiary, Sembmarine SLP Ltd. (SLP).

This will enable SLP to expand its footprint in the UK and provide synergistic support to the Sembcorp Marine Group as well as its North Sea customers. The principal activities of SLP are in the design, engineering, procurement, fabrication and construction of offshore platforms, modules and structures for the oil, gas and renewable energy industries.

10/24/2016

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...