Oslo: Sevan Marine has appointed Pareto Securities to help the company conduct a strategic review.
The company has asked Pareto to look at a broad range of strategic alternatives to exploit the full potential of the company. In a statement on Oslo Bors, Sevan Marine made it clear that the appointment would not guarantee any transaction involving the offshore design firm.
Carl Lieungh, CEO of Sevan Marine said in the statement: “Sevan is well positioned in the current market with a technology that can deliver substantial cost savings versus alternatives. We are pleased to have Pareto on board and look forward to working with them to identify the strategic options available to take Sevan to the next level and to deliver enhanced value to Sevan’s shareholders.”
Speaking to Splash Christian Jomaas, Pareto’s head of corporate finance, explains Seven Marine wants to fully utilise its concept and examine how to exploit its potential, and so the review will involve exploring opportunities, including getting partners or becoming a part of something bigger.