Wilh Wilhelmsen Holding increases stake in NorSea Group - NorSea acquires DanborgCompany News // April 3, 2014
Wilh Wilhelmsen Holding Invest AS (WWHI), a fully owned subsidiary of Wilh Wilhelmsen Holding ASA (WWH), has increased its shareholding in NorSea Group AS (NSG) from 35.4 to 40 per cent.
The share increase follows a share issue in the company whereby NSG has acquired Danbor AS from AP Møller Mærsk AS.
“Increasing our shareholding in NSG is a natural part of our strategic ambition to broaden our exposure in the energy, offshore and maritime industry, supplementing activities Wilh Wilhelmsen ASA and Wilhelmsen Maritimes Services,” says Nils P Dyvik, group CFO in WWH.
The shareholder structure in NSG will, in addition to WWHI, include Eidesvik Eiendomsinvest AS (28 per cent), Simon Møkster Eiendom AS (28 per cent) and NSG management (4 per cent).
Following the share issue, NSG has acquired Danborg from AP Møller Maersk. Danborg is a one-stop shop for companies operating in the oil and gas sector, and includes supply base services, oil and gas related logistics, offshore maintenance, safety services and most recently also logistics and maintenance services for the wind power industry.
“Danbor is the largest service provider of oil and gas logistics in the Danish part of the North Sea with an estimated market share of 80 per cent. The acquisition will therefore ensure that NSG will be able to cater customers in the whole North Sea Bassin. Through the acquisition, NSG will improve its offering to UK and Scotland based customers and not least be part of new explorations related to offshore opportunities at Greenland,” said Mr Dyvik.