Norway’s Wilhelmsen has almost entirely taken over its compatriot offshore supply base specialist NorSea, having acquired an additional 24% of its shares.
Former owners Eidesvik Eiendomsinvest and Simon Møkster Eiendom have each sold their shareholdings of around 12%, with NorSea employees retaining the remaining 1% of shares.
The transaction, worth NOK500m ($53m), increased Wilhelmsen’s shareholding from 75% to 99%. NorSea first welcomed Wilhelmsen as one of the owners in 2012.
Thomas Wilhelmsen, Wilhelmsen group CEO, commented: “The latest transaction demonstrates our continued belief in the competence and values of the company and supports the Wilhelmsen group’s long-term strategy towards the supply base industry and other exciting ventures in the ocean space.
“Much of Norway’s activities and ambitions within the current offshore industry and future renewable energies are focused in geographical areas where NorSea owns and operates its bases. This provides a unique opportunity to be part of those value chains, something NorSea and Wilhelmsen are working hand in hand to achieve.”