Siem Danis confirmed sold

Vessel & ROV News - April 17, 2012

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Siem Offshore has concluded the sale of the 2006-built mid-size PSV Siem Danis, a VS 470 Mk II design, in accordance with sales agreement reported in December 2011.

The sales price was US$34 million, which represents a gain of approximately US$14 million.

The sales proceeds will be used to repay mortgage debt of approximately US$20 million and to strengthen the company’s cash position for business development purposes.

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