Houston-headquartered Seacor Marine Holdings has acquired the remaining 28% stake in liftboat company Falcon Global Holdings from Montco Offshore.
The deal consolidates Seacor’s ownership of 14 liftboats as it takes 100% ownership of Falcon Global, while Montco Offshore will be issued 900,000 Seacor shares via a private placement as payment for the stake.
John Gellert, chief executive officer or Seacor Marine, commented: “We are pleased to complete this acquisition at the current price levels and expand our equity base during these challenging times. Consolidating our ownership of the liftboat fleet will allow us to manage the business with full flexibility going forward, which we believe will create value for our shareholders.”