SCHIEDAM, THE NETHERLANDS--(Marketwire - Nov 12, 2012) - GustoMSC sold to Parcom Capital
as part of divestment program of non-core assets
SBM Offshore N.V. has agreed to the sale and transfer of GustoMSC, to
Capital, a private equity group, for a consideration of approximately US$
million. The purchase price will be paid in cash at closing. The sale is a
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
business's potential. This transaction allows SBM Offshore to release
substantial capital and focus exclusively on FPSOs, and associated products
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
acquisition of GustoMSC. GustoMSC has an outstanding reputation, is well
positioned to achieve further growth in the global offshore market and is
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
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
confident that we can continue to further develop our market position as
reputable and independent designer of mobile offshore units. This new
enables us, our clients and other business partners to continue our
GustoMSC, rooted in 1862, is a leading company for supply of proprietary
of mobile offshore units and for delivery of associated equipment. GustoMSC
provides solutions that are aimed at the offshore exploration, construction
production markets. The proprietary designs include jack-ups,
and mono-hull vessels.
The parties have signed a purchase agreement, subject to financing, and
closing the transaction by 30 November 2012. The transaction was concluded
terms customary for a transaction of this nature and the GustoMSC works
rendered a positive advice on the transaction.
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SBM Offshore Press Release:
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Source: SBM Offshore N.V. via Thomson Reuters ONE