Prosafe bids to buy Nortrans Offshore

News - February 23, 2001

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Offshore Shipbrokers reports that Prosafe ASA of Norway has made an offer to purchase Nortrans Offshore, the FPSO operator in Singapore, on the basis of a cash & share offer valuing the company at around US$200 million. The majority shareholder, Cherryhayes Ltd, with just under 60 per cent of the shares, has already accepted the offer.

Nortrans currently have operating vessels in Vietnam, Indonesia, India, Egypt, Angola and the Ivory Coast.

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