SBM Offshore prepares for sale DSCV SBM Installer
August 21, 2020
SBM Offshore is the long-term charterer of the diving support and construction vessel (DSCV) SBM Installer under a contract ending in 2026. The Company has 25% equity ownership in the entity holding the vessel, OS Installer Limited (OSI). The vessel operates in a non-core market for the Company. In order to gain the flexibility required to divest the vessel, the Company will acquire the remaining 75% equity ownership in OSI. SBM Offshore and Ocean Yield entered into a Term Sheet with respect to this acquisition with a cash consideration of c. US$30 million. OSI’s existing debt facility will remain in place, subject to lender approval.
The transaction is expected to close around the end of the third quarter of this year and remains subject to final documentation and approvals.
The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.
As of December 31, 2019, the Company employed approximately 4,450 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.
SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.
Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.
For further information, please visit our website at www.sbmoffshore.com.
The Management Board
Amsterdam, the Netherlands, August 21, 2020
|Trading Update 3Q 2020 – Press Release||November 12||2020|
|Full Year 2020 Earnings – Press Release||February 11||2021|
|Annual General Meeting of Shareholders||April 7||2021|
|Trading Update 1Q 2021 – Press Release||May 12||2021|
|Half Year 2021 Earnings – Press Release||August 5||2021|
|Trading Update 3Q 2021 – Press Release||November 11||2021|
For further information, please contact:
Group Treasurer and IR
|Telephone:||+31 (0) 20 236 3222|
|Mobile:||+31 (0) 6 21 14 10 17|
Group Communications Director
|Telephone:||+31 (0) 20 236 3170|
|Mobile:||+31 (0) 6 25 68 71 67|
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.
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