Siem Offshore ends talks to sell cable lay business to Subsea 7

Norwegian offshore vessel operator Siem Offshore says talks regarding a potential sale of its cable lay business Siem Offshore Contractors have been terminated.

Siem revealed the talks last week when announcing a restructuring of debt, saying it was considering strategic alternatives for the cable lay business and was in negotiations with a potential buyer.

In ending the talks, Siem revealed the other party as Subsea 7 with discussions held due to the strategic fit between Subsea 7’s renewables business and Siem Offshore Contractors’ cable business.

Siem said it will continue to operate Siem Offshore Contractors as normal.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
Back to top button