Swiber buys stake in Nigerian offshore engineering company

Swiber buys stake in Nigerian offshore engineering company

Swiber Offshore Construction has bought a 38% stake in Nigeria’s Deltatek Offshore, which will see the offshore engineering provider become an associate company of the Swiber group.

The Singapore-based group paid NGN 9,500,001 ($476,679) for the 9.5m shares in Deltatek, a filing said today.

Deltatek provides offshore engineering, procurement, construction, installation and commissioning services within the sub-Saharan Africa region. It was founded in 1993 and has a 51% holding in a joint-venture company, DeltaAfrik Engineering, with civil engineering corporation WorleyParsons.

Swiber said the consideration for the acquisition was arrived at on a willing-buyer, willing-seller basis and was funded “through internal resources”.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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