Technip agrees to sell its majority share in Seamec (Scandinavian Oil-Gas Magazine)

Technip agrees to sell its majority share in Seamec

Published Apr 23, 2014

Technip has entered into binding agreement for the divestment of a majority stake of at least 51% up to 75% in Seamec Limited to HAL Offshore Limited, India at a consideration of Rs 97 per share (translating to €20 million for 51% stake and up to 29 million for 75% stake).

This divestment allows for the development of the Seamec business and HAL’s and is part of Technip’s strategy to concentrate on its core competencies involving deepest subsea complex, deepwater oil and gas developments.

Tags: Technip

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