Hitec Vision acquires all of Reef SubseaCompany News // January 29, 2014
Reef Subsea has confirmed a change in its ownership structure, with HitecVision acquiring all of the shares in the company owned by GC Rieber Shipping.
The company said the change "enables Reef Subsea to move forward under the strong ownership of HitecVision, to grow Reef Subsea into a leading provider of integrated services including subsea construction, IMR, trenching of cables and umbilicals, and seabed dredging and excavation services."
GC Rieber Shipping remains committed to Reef Subsea as a key supplier. The change will not affect any contracts held by Reef Subsea or affect charter commitments Reef Subsea has for the vessels Polar King or Polar Prince with GC Rieber Shipping. The vessels will remain within Reef Subsea fleet until completion of respective firm periods, with Reef Subsea retaining the option to extend the contracts.