Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    IHC completes Atlantia acquisition

    News // September 21, 2001
    IHC Caland says it has completed the acquisition of the entire share capital of Atlantia Offshore Limited (AOL), a Houston-based corporation active in the supply of tension leg platforms (TLPs) and other fixed platforms.

    IHC Caland's intention to acquire the company was first announced in March.

    The net purchase price for the acquisition was $52 million, of which $50 million was paid in cash and $2 million will be paid in shares in IHC Caland.

    The purchase price may be increased by an 'earn-out' agreement whereby the Sellers will receive a share of Atlantia's profits in excess of a predetermined minimum, through 2005.

    AOL will form an integral part of the Offshore Division of IHC Caland.

    More articles from this category

    More news