Wilhelmsen becomes majority shareholder in NorSea GroupCompany News // September 21, 2017
With effect from 26 September 2017, Wilhelmsen will increase its shareholding in offshore supply base and logistics specialist NorSea Group from 40 per cent to approximately 72 per cent.
Eidesvik Eiendomsinvest AS and Simon Møkster Eiendom AS will hold approximately 12 per cent each, with the management at NorSea controlling the remaining 4 per cent. Following the transaction, Wilhelmsen will buy a small portion of management controlled shares.
The increased shareholding was agreed by the Norwegian Competition Authorities on 20 September 2017.
“We wish to have an exposure towards the energy market, primarily oil and gas, but also the offshore wind industry,” said Thomas Wilhelmsen, group CEO of Wilhelmsen. “With an increased shareholding, we look forward to continue to develop NorSea Group and be an active player in the oil and gas industry.”
The total consideration for the Wilhelmsen's additional investment in NorSea Group is NKr 545 million (US$70 million).