The transaction, to be settled by a combination of cash and seller’s credit, will result in HitecVision gaining outright ownership with a 100% stake in the Bergen-based subsea services contractor.
It marks a further expansive move in the oilfield services sector by the well-heeled private equity player that recently acquired a stake in well intervention contractor DeepWell.
The investor is also bankrolling exploration newcomers such as Norway’s Spike Exploration, which recently acquired Bridge Energy in a Nkr1 billion takeover, and Oyster Petroleum of the UK.
Reef
