GeoSea acquires Hochtief's offshore assetsCompany News // October 16, 2014
Hochtief is selling its offshore assets to marine contractor and long-term partner GeoSea.
GeoSea is acquiring full ownership of the self-propelled jack-up turbine installation vessel Innovation.
The company is also assuming other obligations with regard to assets and personnel.
GeoSea said the obligations will have negligible impact on the consolidated balance sheet at DEME, its parent company.
Luc Vandenbulcke, Managing Director GeoSea, said: “This transaction is a significant contribution to expand GeoSea’s activities in the European offshore wind market.”
The sale is subject to conditions including regulatory approval.