Superior Energy Acquires Hallin Marine Subsea

Monday, December 14, 2009

Superior Energy Services, Inc. announced that it has entered into an Implementation Agreement with Hallin Marine Subsea International Plc (AIM: HMS), to acquire Hallin for a price of 233 pence in cash per Hallin share. The offer values Hallin's existing issued and to be issued fully diluted ordinary share capital at approximately 103.5 million pounds sterling (approximately $168.3m based upon an exchange rate of $1.626, at the close of business on December 10, 2009). Hallin is an international provider of integrated subsea services and engineering solutions, focused on installing, maintaining and extending subsea wells. Hallin operates in most international offshore oil and gas markets with major offices and facilities located in Singapore, Jakarta, Indonesia; Perth, Australia; Aberdeen, Scotland; and Houston, Texas.

Terence Hall, Chairman and CEO of Superior, stated, "In the short-run, this transaction will provide us with more international penetration and expanded entry into the subsea field development and installation market. Going forward, we believe the combination of Hallin's experienced management team, existing global infrastructure and Superior's well intervention experience and integrated solutions approach will serve as a strong platform for expansion into the growing subsea well intervention market worldwide."

The offer is to be effected by way of a scheme of arrangement under section 152 of the Isle of Man Companies Act 1931, as amended.

(www.hallinmarine.com)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

First Women's Expedition to the Arctic

Company "MyArctic-expeditions" organize the first women's expedition to the Arctic Ocean. The expedition will start on March 5 in the capital of the Nenets Autonomous

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greeceā€™s islands in order to reach Europe.

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0875 sec (11 req/sec)