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    Helix completes sale of pipelay vessel

    Vessel & ROV News // June 18, 2013

    Helix Energy Solutions Group has closed the sale of its pipelay vessel, Caesar, to Trevaskis Ltd.

    Cash proceeds of approximately US$108 million of the total selling price of approximately US$138 million were received at closing; the company had previously received a US$30 million cash deposit for this transaction in October 2012.

    The sale of the company’s remaining pipelay vessel, Express, is expected to close in July 2013.

    Owen Kratz, President and Chief Executive Officer of Helix, said: "The sale of the Caesar is another important milestone in our strategy to exit our non-core businesses while remaining focused on enhancing and expanding our core well intervention and robotics businesses.”

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