Coflexip Stena Offshore Closes On Aker Maritime Acquisition

Wednesday, January 10, 2001
Coflexip Stena Offshore (CSO) has finalized with Aker Maritime, the acquisition of its deepwater operations. The company's Deepwater Division, which is headquarted in Houston, Texas, was attained for $513 million plus the assumption of net debt of $112 million.

The two parties had initially announced, on October 29, 2000, that they had entered into a conditional agreement whereby CSO would acquire the shares of the companies encompassing the Deepwater Division of Aker.

The final price of the acquisition will be subject to various adjustment mechanisms on the basis of audited financial statements of the Deepwater Division at December 31, 2000.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

West Africa's August Crude Exports to Asia to Slip

West African crude oil exports to Asia were expected to fall to 1.84 million barrels per day (bpd) in August, Reuters data and a survey of traders showed.     Slower

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

Navy

South China Sea Hotline in the Works

China and Southeast Asian nations have agreed to set up a foreign ministers' hotline to tackle emergencies in the disputed South China Sea, a senior official of

Fond Farewell to HMAS Tobruk

The Governor-General, His Excellency General the Honourable Sir Peter Cosgrove, AK, MC (Retd), together with the Assistant Minister for Defence Stuart Robert, MP,

Thai Navy Lobbies for More Submarines

The Royal Thai Navy claims it urgently needs more submarines to compete with other Asian countries.   The assistant commander made the claim aimed at persuading

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
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: 0.1410 sec (7 req/sec)