STX OSV to buy stakes in two entities
Tuesday, 08 May 2012 | 11:00
STX OSV, designer and shipbuilder of offshore and specialised vessels, is buying stakes in two separate entities to strengthen its technology and engineering competence.
STX OSV's subsidiary Seaonics is in the process of acquiring a stake in Norway-based Castor Drilling Solution, a newly established company with specialist competence in offshore drilling technology. The investment, to be completed in two tranches by the end of this year, will give Seaonics a 34% stake in Castor Drilling Solution.
Separately, STX OSV has entered into an agreement to purchase 70% shareholding interest in Brevik Partners, an engineering firm specialising in offshore technology and equipment. The proposed transaction is expected to be completed by the end of May.
“Through focused investments, STX OSV aims to strengthen its ability to develop and introduce vessels equipped with cutting edge innovation and technology,” STX OSV said.
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