Swire Pacific’s indirect holding in Cadeler held through Swire Pacific Offshore Operations has been reduced, the Oslo-listed offshore wind contractor said on Wednesday.
According to Cadeler, formerly known as Swire Blue Ocean, Swire Pacific Offshore now holds 21.55% of the total share capital and voting rights in the company, down from a previously held 28.23% stake. This corresponds to approximately 29.86m shares of a nominal par value of DKK 1 ($0.15) each.
No further details have been disclosed. The Singapore-based company is currently the second largest shareholder in Cadeler, behind BW Wind Services, a subsidiary of Andreas Sohmen-Pao’s BW Group, which held a 32.15% stake as per Cadeler’s latest ownership ranking in October last year.
Copenhagen-based Cadeler owns and operates two offshore jackup wind farm installation vessels and has two X-class wind turbine installation vessels booked at Cosco Shipping Heavy Industry set to deliver by Q3 2024 and Q1 2025, respectively.