Subsea 7 S.A. has announced that one of its wholly owned subsidiaries has made an offer to acquire the 50 % shareholding in Seaway Heavy Lifting Holding Limited currently owned by K&S Baltic Offshore (Cyprus) Limited. The terms of the offer are binding on Subsea 7 until 1 July 2017.
During this period the Works Council representing the employees of Seaway Heavy Lifting in the Netherlands will be consulted in compliance with Dutch law.
Seaway Heavy Lifting is a specialist offshore contractor and operates two world-class heavy lift vessels. It employs approximately 550 employees and is headquartered in the Netherlands. Seaway Heavy Lifting is a joint venture in which Subsea 7 currently holds a 50% interest.
