SBM Offshore Sells GustoMSC (The Netherlands)

SBM Offshore Sells GustoMSC (The Netherlands)

SBM Offshore N.V. has agreed to the sale and transfer of GustoMSC, to Parcom Capital, a private equity group, for a consideration of approximately US$ 185 million. The purchase price will be paid in cash at closing. The sale is a first step in the divestment program for non-core assets of approximately US$ 400 million that the Company announced in August of 2012.

Bruno Chabas, CEO of SBM Offshore said:

“We are pleased to have reached an agreement with Parcom to sell GustoMSC. Parcom is in a good position to achieve, jointly with GustoMSC’s management, the business’s potential. This transaction allows SBM Offshore to release substantial capital and focus exclusively on FPSOs, and associated products and services, in line with strategy. I wish GustoMSC and its employees all good fortune for the future.”

Piet-Hein de Jager, partner at Parcom Capital, said: “We are delighted with the acquisition of GustoMSC. GustoMSC has an outstanding reputation, is well positioned to achieve further growth in the global offshore market and is an excellent addition to our portfolio of investments. We are keen to further develop the business of the company, working closely with management, the employees, and also the customers.”

Nils van Nood, Managing Director of GustoMSC comments: “We are very pleased to have Parcom on board as a strong shareholder and as partner that shares our ambitions. With their support and value-added sector expertise, we are fully confident that we can continue to further develop our market position as reputable and independent designer of mobile offshore units.This new ownership enables us, our clients and other business partners to continue our business as usual”

GustoMSC, rooted in 1862, is a leading company for supply of proprietary designs of mobile offshore units and for delivery of associated equipment. GustoMSC provides solutions that are aimed at the offshore exploration, construction and production markets. The proprietary designs include jack-ups, semi-submersibles and mono-hull vessels.

The parties have signed a purchase agreement, subject to financing, and intend closing the transaction by 30 November 2012. The transaction was concluded on terms customary for a transaction of this nature and the GustoMSC works council rendered a positive advice on the transaction.

November 12, 2012

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

THE 5TH OIL & GAS VIETNAM 2017

The 5th edition of Oil & Gas Vietnam (OGAV) exhibition 2017 is the only specialized event in Vietnam that brings together an international…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply