BW Group is moving to take the largest shareholding in a wind installation vehicle formerly controlled by the Swire Group.
BW Wind Services, a subsidiary of Andreas Sohmen-Pao’s BW Group, came onboard as one of the main investors in a Swire IPO six months ago. Cadeler, formerly known as Swire Blue Ocean, listed on the Oslo Stock Exchange in November last year. The company owns and operates two offshore jack-up wind farm installation vessels, Pacific Orca and Pacific Osprey.
Cadeler today announced via the Oslo Bors that Sohmen-Pao has been nominated to become chairman, taking over from Richard Sell, with Swire selling shares to BW.
Under the deal hatched out between BW and Swire, BW Wind Services will have a total holding of shares and voting rights in the company below 33.33%, while Swire Pacific Offshore will continue to hold more than 25% of the share capital and voting rights.
Connie Hedegaard, chair of the nomination committee, commented today: “Andreas has a strong track record within the shipping and maritime industry and brings the strategic skills, industry knowledge and personal qualities needed to help enhance Cadeler’s position as a premium service provider in the offshore wind industry.”