Tidewater Sells North Sea Boats

Friday, June 18, 1999

Tidewater Inc. will sell its North Sea safety-standby boats to BUE Marine Limited of Edinburgh, Scotland. The $40 million all-cash deal is expected to close by late June. The 28 safety-standby boats were obtained by Tidewater as part of earlier acquisitions. This type of rescue vessel is required for oil and gas entities operating in the North Sea.

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